Case study: A business school recruits around 30 students annually. The student must pay 97,000 dollars to enroll class. After they paid tuition, they will receive 8,000 course credits. If a student successfully invite others to enroll, he receive 1,000 credits as reward. Students could use 1,000 credits to trade in a field trip overseas. So basically, every student could trade in 8 field trips right away after paying tuition. The number of students joining each field trip is dependent to how close two field trips are details listed in the graph below). The cost of holding each trip is also listed below. Field Trip Stats Place Participants Free Rider Cost Date 2017.3.24-27 Europe 30 8 242,8571 26 4 407,142 2017. 8. 23-6 2018.3.18-23 America Europe 18 4 209,178 2018.9.25-30 America 25 5 236,834 Asia 17 4 113,064 ... America 24 2 185,394 2018.11.18-23 2019.3.3-8 2019.4.6-11 2019.6.1-5 2019.8.11-16 Europe 26 6 256,989 Asia 40 3 211,5141 America 23 5 186,403 2019.8.30-9.6 16 00 274,079 Europe Europe 2019.10.13-20 48 6 388,0871 2020.8.11-15 In state 32 5 48,331 2020.9.3-6 In state 36 5 42,6291 2020.10.21-25 In state 46 8 74,5221 (Note: The numbers marked in red are outliers) In 2017 when the school started, 19 students where invited free of tuition and only the other 12 paid. Later on in 2018, the school changed it's policy, the 31 students who enrolle 7 hat year and later on only receives 6,000 credits. 13 out of the 2018 class was also invited join free of tuition. In 2019 the school accepted a total of 48 students, with only 18 students who joined free of tuition. In 2020, the school accepted only 31 students, with 2 joining for free. U to COVID19, the application proccess for class 2021 is still on-going. Students in the 2021 ass will only receive 5,200 course credits hereinafter. Class # of students Free Rider Initial Credits 2017 31 19 8,000 2018 31 13 6,000 2019 48 30 6,000 2020 31 2 6,000 2021 13 1 5, 200 (Note: The 2021 application process is still on-going with 1 invited student for now) In 2020, the school also canceled all oversea field trips, and did field trips only within the country. As a result the cost of holding each trip to drop tremendously. The In-State field trip costs each student 300 course credits and at 2020 the school gained 44,720 course credits, consumed 26,910 course credits, students earned 32,700 course credits and school giveaway freely 8620 course credits. Question: 1. How much does 1 course credit worth in dollar in 2021?(In 2020 1 course credit worth 100 US dollars) 2. How much credits should the school give to earn the maximum profit in 2021? 3. How much credits should the school give to earn the minimum profit in 2021? Case study: A business school recruits around 30 students annually. The student must pay 97,000 dollars to enroll class. After they paid tuition, they will receive 8,000 course credits. If a student successfully invite others to enroll, he receive 1,000 credits as reward. Students could use 1,000 credits to trade in a field trip overseas. So basically, every student could trade in 8 field trips right away after paying tuition. The number of students joining each field trip is dependent to how close two field trips are details listed in the graph below). The cost of holding each trip is also listed below. Field Trip Stats Place Participants Free Rider Cost Date 2017.3.24-27 Europe 30 8 242,8571 26 4 407,142 2017. 8. 23-6 2018.3.18-23 America Europe 18 4 209,178 2018.9.25-30 America 25 5 236,834 Asia 17 4 113,064 ... America 24 2 185,394 2018.11.18-23 2019.3.3-8 2019.4.6-11 2019.6.1-5 2019.8.11-16 Europe 26 6 256,989 Asia 40 3 211,5141 America 23 5 186,403 2019.8.30-9.6 16 00 274,079 Europe Europe 2019.10.13-20 48 6 388,0871 2020.8.11-15 In state 32 5 48,331 2020.9.3-6 In state 36 5 42,6291 2020.10.21-25 In state 46 8 74,5221 (Note: The numbers marked in red are outliers) In 2017 when the school started, 19 students where invited free of tuition and only the other 12 paid. Later on in 2018, the school changed it's policy, the 31 students who enrolle 7 hat year and later on only receives 6,000 credits. 13 out of the 2018 class was also invited join free of tuition. In 2019 the school accepted a total of 48 students, with only 18 students who joined free of tuition. In 2020, the school accepted only 31 students, with 2 joining for free. U to COVID19, the application proccess for class 2021 is still on-going. Students in the 2021 ass will only receive 5,200 course credits hereinafter. Class # of students Free Rider Initial Credits 2017 31 19 8,000 2018 31 13 6,000 2019 48 30 6,000 2020 31 2 6,000 2021 13 1 5, 200 (Note: The 2021 application process is still on-going with 1 invited student for now) In 2020, the school also canceled all oversea field trips, and did field trips only within the country. As a result the cost of holding each trip to drop tremendously. The In-State field trip costs each student 300 course credits and at 2020 the school gained 44,720 course credits, consumed 26,910 course credits, students earned 32,700 course credits and school giveaway freely 8620 course credits. Question: 1. How much does 1 course credit worth in dollar in 2021?(In 2020 1 course credit worth 100 US dollars) 2. How much credits should the school give to earn the maximum profit in 2021? 3. How much credits should the school give to earn the minimum profit in 2021