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Problem - State University is preparing its master budget for the upcoming academic year (an academic year consist; of two semesters). Currently, 12,600 students are enrolled on campus; however, the admissions of?ce is forecasting a 5% growth in the student body despite a tuition hike to $75 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university of?cials:
- State Is planning to award 150 tuition-tree scholarships.
- The average class has 30 students, and the typical student takes 15 credit hours each semester.
- Each class is three credit hours.
- Each faculty member teaches ?ve classes during the academic year.
Required -
A. Compute the budgeted tuition revenue for the upcoming academic year.
B. Determine the number of faculty members needed to cover classes.
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