How to get an equation, graph it, and solve it? Imi12 13 14' 15 16 17 18 19|610 1120 ' 21' 22'23 24' 2518716504131The Admissions Office at Big State University needs to decide how many in-state studentsand how many out of state students to admit to the next class. Like many universities, BigState U has limited resources, and budget considerations have to play a part in admissionspolicy.Here are the constraints on the Admissions Office decision:The college president wants this class to contribute a total of at least $2,500,000 to theschool after it graduates. In the past, Big State U has gotten an average of $8,000 incontributions from each in-state student admitted and an average of $2,000 from each out-of-state student admitted.The faculty at the college wants entering students with good grade point averages. Gradesof in-state students average less than grades of out-of-state students. Therefore, the facultyis urging the school to admit at least as many out-of-statę students as in ștate- students.The housing office is not able to spend more than $85,000 to cover costs such as meals andutilities for students in residence halls during vacation periods. Because out-of-statestudents are more likely to stay on campus during vacations, the housing office needs totake these differences into account. In-State students will cost the office an average of $100each for vacation-time expenses, while out of state students will cost an average of $200each.The college treasurer needs to minimize educational costs. Because students take differentcourses, it costs an average of $7,200 a year to teach an in-state student and an average of$6,000 a year to teach an out-of-state student.Phew...Your job is to recommend how many students from each category should be admitted toBig State U. You need to minimize educational costs, as the treasurer requires, within theconstraints set by the college president, the faculty, and the housing office.(our write up should include a proof that your solution is the best possible within the

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Answered: How to get an equation, graph it, and…

Business

Operations Management

How to get an equation, graph it, and solve it?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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