REPORT ON LINEAR PROGRAMMING MODEL OF THE BIG OIL COMPANY

Report format, make sure to address each step for a single model and move to the next model or address a single step for each model before moving to the next step. ( You have the freedom of choosing either.)

Expert Answer:

Here is a suggested outline for the report:

I. Introduction

• Brief overview of the Big Oil company and the purpose of the linear programming model
• Description of the business problem that the linear programming model is trying to solve

II. Formulation of the Linear Programming Model

• Definition of the decision variables and their bounds
• Statement of the objective function
• Statement of the constraints

III. Solution of the Linear Programming Model

• Description of the solution method used (e.g. simplex method, interior point method)
• Presentation of the optimal solution and the optimal objective value
• Interpretation of the results and their implications for the company

IV. Sensitivity Analysis

• Description of the sensitivity analysis performed (e.g. range of objective function coefficients, range of right-hand side values for constraints)
• Presentation of the results of the sensitivity analysis
• Interpretation of the results and their implications for the company

V. Conclusion

• Summary of the key findings from the linear programming model
• Discussion of the limitations and assumptions of the model
• Suggestions for further improvement or extensions of the model

VI. References

• List of sources cited in the report.