1. Let's examine the history of LSUS undergraduate enrollment vs. its tuition and fees. Download the "A3Q1 LSUS enrollment data" Excel file; in it you will see historical information on LSUS undergraduate enrollment, total credit hour production, and (12-hour, undergraduate) tuition and fees. (If you wish, you can verify or look up additional information hereandhere.)

Calculate annual elasticities for both types of quantity variables (i.e., you will have an elasticity of price vs. headcount, and one of price vs. credit hour). You will get an error message in your calculations when the tuition doesn't change (like in 1994-1996), since the elasticity calculation will be trying to divide by zero; delete those error values in your Excel table so that the cells are blank. The first headcount elasticity will be calculated based on the 1992 and 1993 values of tuition and headcount and should be about -0.122; the first credit hour elasticity will also be based on the 1992 and 1993 values and should be about -0.226. Calculate the average annual elasticity for headcount (from 1992-2022), and the average annual elasticity for credit hour (from 1992-2022).

Many administrators argue that, to increase revenue to LSUS to cover budget shortfalls, tuition should be raised. Comment on this suggestion, using the evidence you've uncovered.

Here is the data to use:

Year	undergrad enrollment	total LSUS credit hour production	undergrad tuition and fees ($)
1992	4017	102826	740
1993	3890	96864	965
1994	3656	91152	965
1995	3631	90216	965
1996	3354	86790	965
1997	3516	91578	1025
1998	3678	94979	1025
1999	3553	94396	1025
2000	3,422	90,624	1,025
2001	3,419	94,446	1,150
2002	3,543	96,039	1,184
2003	3,655	101,352	1,442
2004	3,910	101,868	1,545
2005	3,940	100,181	1,621
2006	3,594	92,486	1,667
2007	3,556	92,123	1,667
2008	3,903	94,639	1,751
2009	4,220	101,972	1,867
2010	4,058	98,137	2,062
2011	4,134	98,372	2,247
2012	4,124	93,163	2,472
2013	3,674	85,292	2,803
2014	3,202	87,907	3,084
2015	2,775	91,021	3,355
2016	2,587	94,077	3,417
2017	2,638	115,340	3,417
2018	2,511	137,467	3,663
2019	2,577	165,057	3,663
2020	2,553	191,712	3,663
2021	2,477	173,910	3,663
2022	2,465	170,128	3,663