An engineering student has only 45 minutes before the final exam in her Engineering Economy class. She needs help in understanding cost-effectiveness analysis because she knows from the instructor’s review session that a CEA problem will be on the exam. There is time for using only one method of assistance before the exam; she must select well. In a rapid process of estimation, she determines how many minutes it would take for each method of assistance and how many points it might gain for her on the final. The method and estimates follow. Where should she seek help to be most effective?
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Minutes are the cost, C, and points gained are the effectiveness measure, E. Order on basis
of E and calculate CER values, then perform ?C/E analysis.
E = 5; Friend: C/E = 10/5 = 2
E = 10; Slides: C/E = 20/10 = 2
E = 15; Instructor: C/E = 20/15 = 1.33
E = 20; TA: C/E = 15/20 = 0.75
Friend vs. DN: C/E = 2 Basis for comparison
Slides vs. friend: ?C/E = (20-10)/(10-5) = 2
No dominance; keep both; slides is new defender
Instructor vs. slides: ?C/E = (20-20)/(15-10) = 0
0 < 2; slides are dominated, eliminate slides; instructor is new defender
TA vs. instructor: ?C/E = (15-20)/(20-15) = -1
-1 < 0.75; professor is dominated; only TA and friend remain
TA vs. friend: ?C/E = (15-10)/(20-5) = 0.33
0.33 < 2; friend is dominated; go to TA for assistance
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