- Middle-East Incorporated (MEINC) Oil blends gasoline from the following components: Domestic Blend, Foreign Blend Source 1, Foreign Blend Source 2, and an Octane Additive used only in premium gasoline.
- The Foreign Blend Source 1 and Source 2 are transported in the 8,000,000-gallon storage of a large tanker. The tanker has a complex system of small storage compartments allowing any division between source 1 and source 2 of the total capacity.
1. Make a "logical model"
2. Make an "algebraic model"
3. Make a "spreadsheet model"(1page=attached sensitivity report also!!!(2007version please!!!)
A. Clearly define and label all of the variables
B. Do not hard wire parameter values into formulas. Store them in separate cells to facilitate documentation and analysis.
C. Use formatting options of excel to highlight and indent headings and all labels to improve the appearance of the model.
4. Use the excel solver to find the optimal solution