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An oil company has three different processes that can be used to manufacture different types of gasoline. Each process involves blending oils in the company’s catalytic cracker. Running process 1 for an hour costs $5 and requires 2 barrels of crude oil 1 and 3 barrels of crude oil 2. The output from running process 1 for an hour is 2 barrels of gas 1 and 1 barrel of gas 2. Running process 2 for an hour costs $4 and requires 1 barrel of crude 1 and 3 barrels of crude 2. The output from running process 2 for an hour is 3 barrels of gas 2. Running process 3 for an hour costs $1 and requires 2 barrels of crude 2 and 3 barrels of gas 2. The output from running process 3 for an hour is 2 barrels of gas 3. Each week, 200 barrels of crude 1, at $2/barrel, and 300 barrels of crude 2, at $3/barrel, may be purchased. All gas produced can be sold at the following per-barrel prices: gas 1, $9; gas 2, $10; gas 3, $24. Assume that only 100 hours of time on the catalytic cracker are available each week.
Formulate an LP whose solution will maximize revenues less costs.
Solve the problem using Excel solver.
Solve the problem using CPLEX.
