Northeastern Illinois University Sensitivity Report Excel Task
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Northeastern Illinois University Sensitivity Report Excel Task
Description
Remember that your spreadsheet should be built containing formulas to calculate all values using the input parameters – hard-coding is NOT permitted! Additionally, the template is NOT to be modified in any way; adding or subtracting cells will be penalized.
Problem Statement
Suppose that you work for a petroleum products company and are responsible for deciding how many barrels of Gasoline and how many barrels of Heating Oil your unit will produce. Your objective to make as much profit as possible, but you are limited by how many barrels of Crude Oil you have available with which to make Gasoline and Heating Oil. To make matters worse, there are two grades of Crude Oil which must be mixed together to produce either Gasoline or Heating Oil, and both finished products (meaning Gasoline and Heating Oil) have different requirements for the minimum average quality level of the Crude Oil. The tables below summarize relevant information for both sets of raw materials and finished goods.
Crude Oil
|
Quality Level per Barrel |
Barrels Available |
Crude Oil 1 |
10 |
5000 |
Crude Oil 2 |
5 |
10000 |
Finished Products
|
Gasoline |
Heating Oil |
Required Quality Level |
8 |
6 |
Selling Price per Barrel |
$25 |
$20 |
Advertising Cost per Barrel |
$0.20 |
$0.10 |
Your goal is to determine the best blending plan that maximizes profit without violating any of the constraints. But first, a hint; rather than think of the quality level as a weighted average, consider that each barrel of finished goods will need at least the required quality level, so for example every barrel of Gasoline made will need 8 quality points, and thus to make 5 barrels of Gasoline, one must have 40 quality points. So, using 5 barrels of Crude Oil 1 is fine since that represents 50 quality points, but using 5 barrels of Crude Oil 2 won’t work since that’s only 25 quality points. A minimum middle ground would be 3 barrels of Crude Oil 1 and 2 barrels of Crude Oil 2, resulting in exactly the minimum of 40 quality points. So, to determine if your blending plan meets these requirements, you’ll need to calculate both how many quality points you need for a given number of produced barrels and how many quality points are provided by the barrels you’ve selected.
To reiterate, 3 barrels of Crude Oil 1 and 2 barrels of Crude Oil 2 provide a total of 40 quality points, which meets the requirement of Gasoline (5*8=40 quality points) and exceeds the requirement for Heating Oil (5*6=30 quality points).
Part 1
Begin by developing a what-if model using the template provided to represent the problem above, and don’t forget to include relation symbols between the constraints. To validate your model, enter a test solution according to the table below. If you have built the model correctly, you should find a Total Profit of $318,100.
|
Gasoline |
Heating Oil |
Crude Oil 1 |
2500 |
2500 |
Crude Oil 2 |
1500 |
8500 |
Once you’re sure your what-if model is correct, create an optimization model in Solver to determine the optimal blending plan to maximize profit. Have Solver produce both the Answer and Sensitivity Reports.
Part 2
The worksheet “Interpretation” contains answer blanks to use when responding to the following interpretation questions:
- Indicate which of the constraints are binding by choosing from the dropdown menus.
- If the number of available barrels of Crude Oil 1 were increased by 1, how would this affect the optimal solution? Indicate if the optimal profit would improve or drop by choosing from the dropdown menu in cell B11, then enter the magnitude (absolute value) of change in C11.
- What is the largest number of available barrels of Crude Oil 1 where the relationship described in Question 2 remains true? Enter your response in C14.
Northeastern Illinois University Sensitivity Report Excel Task
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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