Anh is finishing his third year of college and is contemplating his living arrangements for his final year of school. Until now, he has lived on campus. He has it narrowed down to three options:

1. Live at home and commute to school.
2. Rent a house with several friends near campus.
3. Rent an on-campus apartment with a few friends.

a. Describe the relevant costs and benefits associated with each option, not including dollar amounts.

b. Estimate the quantitative costs and benefits for the components of part (a) and determine which option is the most cost-effective. A few additional details are as follows.

• Anh's permanent residence is 15 miles from campus.
• Renting a house near campus would cost $400 per month (if enough roommates can be found).
• Renting an on-campus apartment would cost $600 per month (if Anh can't find roommates, they will be assigned).

Make reasonable assumptions for any remaining items and note them.

c. If you were Anh, what would you decide for living arrangements for your final year of college? Explain.

d. Does the quantitative analysis overrule the qualitative analysis every time? Please explain.