The Real College wants to maximize enrollment and minimize costs in their phd program. With the discount rate for each student, they make $20,000 on tuition of $36,000 – 2 year program. They have around 40 full-time and 20 part-time faculty teaching in the program. Also have classroom space for 15 rooms of 30 students each. For online and in-person instruction, they cap courses at 30 students. They currently have 250 students in the program. For any profit they make, they keep 70% of the profit and give back 30% to the central University pool. As a consultant, you have been asked to apply Linear Programming using Excel Solver and determine the optimum phd student enrollment given the information above. You can make reasonable assumptions but indicate such.
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