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b ) Your employer company has recently acquired a refinery which produces three types of gasoline by blending three crude oil distillates: A , B
b Your employer company has recently acquired a refinery which produces three types of gasoline by blending three crude oil distillates: A B and C Answer the questions below, stating and justifying any assumptions. Octane Number ON quality and market data are provided in Table Qb Table Qb: Refinery feed and product data bbl: barrel tableFeeedName,ONAvailability bbldayCost bblDistillateADistillateBDistillateCGasolineName,min. ONmax. A min. C Price bblRegularRMidGrade,MPremiumP i Express the revenue generated from selling each of these three fuel types at given prices as an explicit function of feed quantities blended. ii Derive the objective function for gasoline blending profit maximisation. Define in detail all terms necessary and then obtain the simplest form. iii Express all constraints on gasoline blending operation with regard to specifications and physical limitations Derive all in the simplest form. For each of the following questions, use at most four sentences. iv If the premium grade gasoline specification is changed to find and explain the maximum daily output attainable by this refinery. v Could you draw a feasible region FR for the iiiii model on paper? Justify your response in detail, providing clear quantitative arguments. vi State the key LP theorem. How can the optimal blending operating point be determined? How can we check on the FR that this is the optimum?
b Your employer company has recently acquired a refinery which produces three types of gasoline by blending three crude oil distillates: A B and C Answer the questions below, stating and justifying any assumptions. Octane Number ON quality and market data are provided in Table Qb
Table Qb: Refinery feed and product data bbl: barrel
tableFeeedName,ONAvailability bbldayCost bblDistillateADistillateBDistillateCGasolineName,min. ONmax. A min. C Price bblRegularRMidGrade,MPremiumP
i Express the revenue generated from selling each of these three fuel types at given prices as an explicit function of feed quantities blended.
ii Derive the objective function for gasoline blending profit maximisation. Define in detail all terms necessary and then obtain the simplest form.
iii Express all constraints on gasoline blending operation with regard to specifications and physical limitations Derive all in the simplest form.
For each of the following questions, use at most four sentences.
iv If the premium grade gasoline specification is changed to find and explain the maximum daily output attainable by this refinery.
v Could you draw a feasible region FR for the iiiii model on paper? Justify your response in detail, providing clear quantitative arguments.
vi State the key LP theorem. How can the optimal blending operating point be determined? How can we check on the FR that this is the optimum?
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