Reference no: EM13774073

The admissions office wants to determine how many in-state and out-of-state students to accept for next fall’s entering freshman class. Tuition for an in-state student is $7,600 per year while out-of-state tuition is $22,500 per year. A total of 12,800 in-state and 8,100 out-of-state freshman have applied for next fall, and the university does not want to accept more than 3,500 students. However, since we are a state institution, the state mandates that it can accept no more than 40% out-of-state students. From past experience, the admission office knows that 12% of in-state students and 24% of out-of-state students will drop out during their first year. The university wants to maximize total tuition while limiting the total attrition to 600 first-year students. Construct your own template and use Solver to find the solution