Use first set of data to derive a second set
a task takes 30 minutes, and yields $20 output, done with a combination of tools.
This equates to 1.1 cents/second that I am earning, for a Total $20.
One process of this task involves removing 15 screws. I time myself remove 15 screws using both a manual screwdriver, and a power driver.
I determine the power driver to be 150% more effective than the manual screwdriver method.
I.e 15 screws took 120 seconds to remove manually, or 80 seconds to remove via power driver.
My ultimate goal in doing so is to account for how much time in seconds I am saving my using the better tool, converting that time into an equivalent monetary unit, and deciding when the tool has paid for itself.
So using the sample data obtained from above:
If i determine ive unscrewed 500 screws in the past month, using a power drill method, which ive determined is 150% faster than manual, and estimate 5 seconds each screw. this is 2500 seconds ive engaged in unscrewing screws in the month.
(Using the base-line rate gained from the last known data, for ease and simplicity i.e 1.1 cents/second)
how many seconds did I save by using the drill method opposed to manual? and how much money does this equate to?
A more in-depth discussion around the problem is here:
https://www.freemathhelp.com/forum/threads/quantifing-time.135187/#post-573300
Zeanah
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