Background: This research paper presents a cross-sectional study that examinefs the preferences of students for hybrid teaching and learning scenarios. Unlike previous studies that merely describe hybrid scenarios, this research prioritizes them, offering evidence-based findings for informed policy decisions. Methods: The data collection method involved eight choice-based tasks using the conjoint analysis technique conducted with 'Sawtooth' software. The study surveyed students at a mid-sized university across four departments in Central Switzerland. The sample analysed in this article comprised 319 respondents from the Lucerne School of Business. Results and Conclusions: Our survey found that students' own location during a teaching session played a significant role in determining participation preferences, followed by that of the lecturer. Factors that influenced students' preferences whether to attend onsite or online include workload, didactical format, perceived level of difficulty, student residence, and semester. Forms of hybrid collaboration and student--student interaction did not significantly influence student preferences. Takeaways: The value of this study lies in its evidence-based findings for specific hybrid scenarios, which can provide useful insights for policymakers in degree programs and faculty in hybrid classrooms. This study is one of only a few to use conjoint analysis with such a high respondent rate to determine student preferences for hybrid attendance.