n 2009, Internationale Outstanding University (IOU) had an enrollment of 27,000 undergraduates, each of whom paid $6,216 per year in tuition. In 2010, enrollment was 27,628 students, and tuition was raised 5.4%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was 27,570 students. In 2012, it is estimated that tuition will be $7,082 and IOU needs to recei
n 2009, Internationale Outstanding University (IOU) had an enrollment of 27,000 undergraduates, each of whom paid $6,216 per year in tuition. In 2010, enrollment was 27,628 students, and tuition was raised 5.4%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was 27,570 students. In 2012, it is estimated that tuition will be $7,082 and IOU needs to recei
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section: Chapter Questions
Problem 46P
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In 2009, Internationale Outstanding University (IOU) had an enrollment of 27,000 undergraduates, each of whom paid $6,216 per year in tuition. In 2010, enrollment was 27,628 students, and tuition was raised 5.4%. In 2011, IOU received $186.8M in revenue from student tuition, and enrollment was 27,570 students. In 2012, it is estimated that tuition will be $7,082 and IOU needs to receive 6.5% more total revenue from tuition than in 2011.
How many students must IOU enroll to meet the 2012 revenue goal?
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