Master equation calculations were carried out to simulate the production of hydroxyl free radicals initiated by the reaction of acetyl free radicals (CH3(CQO) ) with molecular oxygen. In particular, the competition between the unimolecular reactions and bimolecular reactions of vibrationally excited intermediates was modeled by using a single master equation. The vibrationally excited intermediates (isomers of acetylperoxyl radicals) result from the initial reaction of acetyl free radical with O2. The bimolecular reactions were modeled using a novel pseudo-first-order microcanonical rate constant approach. Stationary points on the multi-well, multi-channel potential energy surface (PES) were calculated at the DFT(B3LYP)/6-311G(2df,p) level of theory. Some additional calculations were carried out at the CASPT2(7,5)/6-31G(d) level of theory to investigate barrierless reactions and other features of the PES. The master equation simulations are in excellent agreement with the experimental OH yields measured in N2 or He buffer gas near 300 K, but they do not explain a recent report that the OH yields are independent of pressure in nearly pure O2 buffer gas.