Question: Need Help with Part B. Please show work on excel and the formulas used. An oil company produces gasoline from five inputs. The cost, density,
Need Help with Part B. Please show work on excel and the formulas used.
An oil company produces gasoline from five inputs. The cost, density, viscosity, and sulfur content, and the number of barrels available of each input are listed in the file P04_78.xlsx. Gasoline sells for $75 per barrel. Gasoline can have a density of at most 0.95 units per barrel, a viscosity of at most 35 units per barrel, and a sulfur content of at most 3.3 units per barrel. B. Describe how the optimal solution to the problem changes as the price of gasoline ranges from $65 to $85 per barrel.
| Column1 | Column2 | Column3 | Column4 | Column5 |
| Problem 4.78(a) Oil Company (p. 204) | ||||
| Selling price per barrel | $ 75 | |||
| Input | C os t | Density | Viscosit y | Sulfur |
| Light gas oil | $69.50 | 0.83 | 40 | 1.0 |
| Heavy gas oil | $66.70 | 0.88 | 26 | 2.2 |
| Waxy distillate | $56.40 | 0.92 | 30 | 2.8 |
| Atmospheric residue | $16.50 | 0.97 | 65 | 4.1 |
| Vacuum residue | $10.40 | 1.50 | 48 | 5.0 |
| Upper limits | 0.95 | 35 | 3.3 | |
| Blending plan | ||||
| Input | Input used | Available (Ten Thousands) | ||
| Light gas oil | 40000 | <= | 40 | |
| Heavy gas oil | 50000 | <= | 50 | |
| Waxy distillate | 70000 | <= | 60 | |
| Atmospheric residue | 11995 | <= | 70 | |
| Vacuum residue | 18472 | <= | 80 | |
| Sum Input | 190467 | |||
| Constraints | Density | Viscosity | Sulfur | |
| Actual | 180943.15 | 6666331 | 487539.5 | |
| <= | <= | <= | ||
| Maximum | 180943.65 | 6666345 | 628541.1 | |
| Revenue | $ 14,285,025 | |||
| Cost | $ 10,453,026.30 | |||
| Profit | $ (3,831,998.70) |
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