Medina, H. E., & Ceffaratti, K. M. (2015, June), Novel Visual Algorithm to Teach Benefit-cost Ratio Analysis  Paper presented at 2015 ASEE Annual Conference & Exposition, Seattle, Washington. 10.18260/p.24530

\bibitem{asee_peer_24530}
  Medina, H. E., \& Ceffaratti, K. M. (2015, June), \emph{Novel Visual Algorithm to Teach Benefit-cost Ratio Analysis}
  Paper presented at 2015 ASEE Annual Conference \& Exposition, Seattle, Washington.
  10.18260/p.24530

Hector E. Medina and Kyle Michael Ceffaratti.  "Novel Visual Algorithm to Teach Benefit-cost Ratio Analysis".  2015 ASEE Annual Conference & Exposition, Seattle, Washington, 2015, June.  ASEE Conferences, 2015.  https://strategy.asee.org/24530 Internet.  09 Jul, 2024

\bibitem{asee_peer_24530}
  Hector E. Medina and Kyle Michael Ceffaratti.
  "Novel Visual Algorithm to Teach Benefit-cost Ratio Analysis".
  \emph{2015 ASEE Annual Conference \& Exposition, Seattle, Washington, 2015, June}.
  ASEE Conferences, 2015.
  https://strategy.asee.org/24530 Internet.  09 Jul, 2024

@INPROCEEDINGS{asee_peer_24530
author = "Hector E. Medina and Kyle Michael Ceffaratti"
title = "Novel Visual Algorithm to Teach Benefit-cost Ratio Analysis"
booktitle = "2015 ASEE Annual Conference \& Exposition"
year = "2015"
month = "June"
address = "Seattle, Washington"
publisher = "ASEE Conferences"
note = {https://strategy.asee.org/24530}
number = {10.18260/p.24530}
}

TY  - CPAPER
AB  -                 NOVEL VISUAL ALGORITHM TO TEACH BENEFIT-COST RATIO ANALYSIS                                                   By                                          Hector Medina, PhD                                             Kyle CeffarattiIt is well known that the benefit-cost ratio (BCR) analysis is the most used approach for economicanalysis and decision making in the public sector. The most important reason for this, perhaps, is relatedto the simplicity of BCR analysis. However, often times, freshmen and sophomore students findtraditional incremental-analysis algorithms long and tedious, mostly when dealing with four or morealternatives. Moreover, even those who appear to grasp the steps more easily tend to forget them inthe immediate following term. A new, easy-to-understand algorithm could facilitate theteaching/learning experience of BCR analysis, while improving the level of retention over time. It hasbeen established that visual approaches can help accomplish both of the aforementioned goals. Withthis intention in mind, we have derived a novel, simple, and purely-visual algorithm to select the best ofmany alternatives using the BCR analysis, with the advantage of avoiding the route of traditionalincremental analysis. In our approach, BCR values for all alternatives are plotted on a 2-dimensional, 3-axis diagram: two parallel and one perpendicular coordinates. The best alternative is selected by themaximum vertical or perpendicular distance from the points to the incline BCR=1. The proposedalgorithm has been preferred by our Engineering Economic Analysis students.
AU  - Hector E. Medina
AU  - Kyle Michael Ceffaratti
CY  - Seattle, Washington
DA  - 2015/06/14
PB  - ASEE Conferences
TI  - Novel Visual Algorithm to Teach Benefit-cost Ratio Analysis
UR  - https://strategy.asee.org/24530
DO  - 10.18260/p.24530
ER  -