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Cost-benefit/value for money analysis
2 messages · Graham Smith, Joshua Ulrich
This really doesn't have anything to do with finance, but I was bored waiting for something to run. Please direct any questions to me off-list or to R-help, since this is not on-topic for this list.
On Tue, Jan 4, 2011 at 12:54 PM, Graham Smith <myotistwo at gmail.com> wrote:
Posted on R-help, but it has been suggested that I also post here. I assume this has a "proper" name, but I don't know what it is and wondered if anyone knew of a package that might do the following, or something similar. As an example, assume I have borrowed and read 10 books on R , and ?I have subjectively given each of them a "value" score in terms of how useful I think they are. I also know how much each costs in terms of money.
set.seed(21) p <- trunc(runif(10)*100) # prices v <- trunc(runif(10)*10) # values
What I would like to do is to calculate the costs of every possible combination of the 10 books, and plot the total monetary value for each of these possible combination ?with their associated subjective value totals, to help decide which combination of books represents the best value for money.
bk <- letters[1:10] # books nb <- 3 # number of books to choose pc <- combn(p,nb,sum) # price combinations of 3 books vc <- combn(v,nb,sum) # value combinations of 3 books bc <- combn(bk,nb) # books in each combination plot(vc/pc) # value for money bc[,which.max(vc/pc)] # best combination of value for money
I know that some specialist decision analysis software does this sort of thing, but was hoping R might have an appropriate package.
Everything above was done with the base R packages. Best, -- Joshua Ulrich | FOSS Trading: www.fosstrading.com
Many thanks, Graham ? ? ? ?[[alternative HTML version deleted]]
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