0
$\begingroup$

Not sure if I worded the question right. And I'm not particularly sure if I know the terms I am looking for.

Please help me understand this better.

I have a group of students who participate together in a fundraising event. The money raised will be divided up and distributed to each student's individual account based on two things:

  1. The percentage each age group is in the overall number of students who participated
  2. The "value" each age group brings to the event.

I have 3 age groups. Groups 1, 2 and 3. Not all age groups will necessarily participate. If an equal number of students from each age group participates then Group 1 will earn 1/6 of the total, Group 2 will earn 1/3 of the total, and Group 3 will earn 1/2 of the total.

Example: 1 student from each age group participates in a fundraiser and raises $300 The student from Group 1 will be given $50. The student from Group 2 will be given $100. The student from Group 3 will be given $150.

What is it called, and how do I calculate out different scenarios, like:

  • 3 students from Group 3, and 1 student from Group 2 participates in a fundraiser and raised $400
  • 3 students from Group 3, 3 students from Group 2, and 1 student from Group 1 participates in a fundraiser and raises $300

Is there a general formula for this?

Thanks in advance!

$\endgroup$
0
$\begingroup$

I just had to step away and think about this in simpler terms. I was trying to group each student in to an age group then determine their level of contribution to the overall goal as a group. Really, I just needed to determine each student's contribution individually after assigning an individual weight to their contribution.

Very simply: StudentPortion = TotalMoneyRaised * StudentWeight / TotalWeight

Where StudentPortion is the amount of money earned by a student and TotalWeight is the combined weight of all students.

If age group 1 has a weight of .167, age group 2 has a weight of .333, and age group 3 has a weight of .5 and we have 2 students in each age group and a total amount of $500 raised, then each student in age group 1 earns 500 * .167 / 1.5 dollars.

Funny that I took a simple ratio and made it so complicated.

$\endgroup$

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.