Assumed Temperature Takeoff power

[Stamatis]

Hi,

I know that the formula to compute the reduced N1% setting for an assumed temp takeoff is:

Reduced N1 = Full N1 x Square route of (Ambient temp / Assumed temp)
Where the temps are in deg K.

My question is as follows:
Is the "Full N1" the max Takeoff N1 for the current ambient temperature, or is it the max Takeoff N1 for the temperature equal to what is entered as the "Assumed temp"?

Stamatis