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Strawman Ltd runs tutoring classes for high school students. The maximum number of students a weekly tutorial class can take is 15. Each tutor, who is paid a per semester salary of $20 000 including on-costs, can manage up to 5 classes per week per semester. Assuming that this semester there are 350 students enrolled. What is the budgeted salary for tutors this semester?
Known Values
Refers to parameters or factors in an equation or scenario that are already specified or determined.
Expected Values
The predicted average of all possible outcomes of a random variable, weighted by their probabilities.
Weighted Average
A calculation that takes into account the varying degrees of importance of the numbers in a data set.
Mean Values
Statistical measures representing the average value in a set of data, calculated by summing all observations and dividing by the number of observations.
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