What is cost benefit analysis & how to do it?Ĭost benefit analysis, as the name suggests is a process of identifying all the costs & benefits of different decision choices and finding which choice offers maximum benefit for minimum cost. Now your job is to do a cost benefit analysis of these options and pick one. Regular incandescent bulbs (the kind Hogwarts currently uses).A quick search revealed that there are 3 types of light bulbs: Fortunately this is easier than catching a snitch in a game of quidditch. Your next step is to figure out what varieties of light bulbs are out there. Why not replace the light bulbs with a variety that consumes low power? A light bulb moment indeed. So you summoned the previous 12 month utility bills to examine energy consumption patterns, and pretty soon you realized that most of the electricity consumption is due to the light bulbs. As the muggles don’t accept wizard money, we have to find a way to reduce our power consumption.” So one fine day, while you are practicing the spells, Dumbledore walks in to your office and says, “Our electricity bills are way too high. Imagine you are the in-charge of finance department at Hogwarts.
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