The University of Ottawa(OU) Is Preparing Its Master Budget for the Upcoming

The University of Ottawa(OU) is preparing its master budget for the upcoming academic year. Currently, 22,000 students are enrolled on campus; however, the admissions office is forecasting a 2% growth in the student body despite a tuition increase to $75 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials:
▪ OU is planning to award 200 tuition-free scholarships.
▪ The average class has 50 students, and the typical student takes 10 credit hours each semester.
▪ Each class is two credit hours.
▪ Each faculty member teaches four 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.
C. In preparing the university's master budget, should the administration begin with a forecast of students or a forecast of faculty members? Briefly explain.

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