Good evening, I am hoping that someone can double check my answers below and let me know if the math is correct?
Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 15,500 students are enrolled on campus; however, the admissions office is forecasting a 6 percent growth in the student body despite a tuition hike to $70 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials: WSU is planning to award 180 tuition-free scholarships. The average class has 20 students, and the typical student takes 20 credit hours each semester. Each class s four credit hours. WSUs faculty members are evaluated on the basis of teaching, research, and university and community service. Each faculty member teaches five classes during the academic year Required: 1. Prepare a tuition revenue budget for the upcoming academic year 2. Determine the number of faculty members needed to cover classes, 3. Assume there is a shortage of full-time faculty members, Select at least five actions that WSU might take to accommodate the growing student body by selecting an Xnext to the action. You have been requested by the university's administrative vice president (AVP) to construct budgets for other areas of opration(eg, the library, grounds, dormitories, and maintenance). The AVP noted "The most important resource of the university is its faculty. Now that you know the number of faculty needed, you can prepare the other budgets. Faculty members are indeed the key driver-without them we don't operate. Are faculty members a key driver in preparing budgets? 4. Prepare a tuition revenue budget for the upcoming academic year Determine the number of faculty members needed to cover dasses 2.465 Tuition revenue budget 5.500 930 16.430 180 16,250 60 975,000 70 student enroiment Add: Increase in student body Total student body Tuition-paying students hours per student per year Total credit hoursS ution rate per hour Forecasted tuition revenuue 5 68 250,000 Assume there is a shortage of full-time faculty members. Select at least five actions that WSU might take to growing student body by selecting an X next to the action. e the Hire parl-time instruclors Increase the teaching load for each professo Reduce the number of courses cfered Increase class sice and reduce the number of secbons to be offered Have students take an intemet-based course offered by another univers Sht courses to a summer session You have been requested by the university's administrative vice president (AVP) to construct budgets for other areas of operation (e.g- the liEbrary, grounds, dormitories, and maintenance). The AVP noted: The most important resource of the university is its faculty. Now thst you know the number of faculty needed, you can prepare the other budgets. Faculty members are indeed the key driver-without them we don't operate. Are faculty members a key driver in preparing budgets? Show less OYes No
