MS5220 Management Science Quiz 1

MS5220 Management Science Quiz 1
Preliminary Quiz on “Tascosa Refinery A”

Read the Tascosa Refinery A case and answer the following questions.

1. The most accurate statement of the problem to be solved in Tascosa A is:
(A) determine the optimal mix of blending stocks to be produced by the refinery;
(B) determine how the blending section should utilize the blending stocks produced by the refinery;
(C) determine the optimal prices Tascosa should charge for the blending stocks produced;
(D) determine the optimal quantities of blending stocks the blending section should purchase from the open market.

2. Which of the following statements is correct?
(A) The maximum permitted octane number for Regular gasoline is 92;
(B) The minimum permitted octane number for Regular gasoline is 92;
(C) The minimum permitted octane number for Regular gasoline has not been given;
(D) The average octane number of Regular gasoline is 92.

3. Which of the following statements is correct?
(A) The maximum selling price for Regular gasoline is $4.83/barrel;
(B) The selling price for Regular gasoline is $4.40/barrel;
(C) The selling price for Premium gasoline is $4.40/barrel;
(D) The minimum selling price for Premium gasoline is $4.40/barrel.

4. Which of the following statements is correct?
(A) Raffinate is one of the products (outputs) of the blending section;
(B) Raffinate is one of the ingredients purchased by the refinery section from the market;
(C) Raffinate is one of the blending stocks used by the refinery;
(D) Raffinate is one of the blending stocks used by the blending section.

5. Which of the following statements is correct?
(A) 5000 barrels per day of Alkylate are needed by the blending section;
(B) 2700 barrels per day is the optimal amount of Alkylate the refinery should purchase;
(C) 2700 barrels per day is the optimal amount of Alkylate the blending section should produce;
(D) 2700 barrels per day of Alkylate is made available to the blending section by the refinery.

6. Which of the following statements is correct?
(A) The refinery pays $4.29 for each barrel of Reformate it buys from its supplier;
(B) The refinery pays $4.40 for each barrel of Reformate it buys from its supplier;
(C) The refinery charges $4.29 for each barrel of Reformate it delivers to the blending section;
(D) The blending section pays $4.40 for each barrel of Reformate it buys from the open market.

7. The vapor pressure of Reformate is:
(A) a decision variable to be determined by LP and the Excel Solver;
(B) 6 pounds per square inch;
(C) 6 kilograms per square inch;
(D) $4.29

8. Which of the following statements is correct?
(A) The optimal amount of Reformate the refinery should produce is 4500 barrels/day.
(B) The optimal amount of Alkylate the blending section should use is 4500 barrels/day.
(C) The optimal amount of Reformate the blending section should use to produce regular gasoline is 4500 barrels/day.
(D) The optimal amount of Reformate the blending section should use to produce premium gasoline is 4500 barrels/day.

9. Which of the following statements is correct?
(A) The blending section produces only regular and premium gasoline;
(B) The blending section produces gasoline and some of the blending stocks;
(C) The blending section produces regular gasoline and Reformate;
(D) The refinery section produces only regular and premium gasoline.

10. The objective function of our LP (linear programming) formulation for “Tascosa A” should pertain to:
(A) maximizing the profit of the blending section;
(B) maximizing the combined profit of the blending and refinery sections;
(C) maximizing the production quantities of the blending section;
(D) maximizing the combined production quantities of the blending and refinery sections.