This study was concerned with the collection and analysis of empirical data regarding the public and private costs and some utility aspects of vocational-technical education at two educational centers. Activities included establishing: (1) occupational objectives of programs offered, (2) the degree of attainment of occupational objectives by graduates in terms of earnings levels, (3) a cost-effectiveness ratio, by dividing the private and public costs per student by a ranked utility number assigned to the earnings level of each sampled graduate and computing a mean ratio for each program, and (4) a simulation model with respect to optimizing a number of interacting variables such as staff and facility organization and utilization. The study report is preceded by a literature review and discussions of cost-utility as an emerging concept, the cost-benefit role in Planning, Programming, and Budgeting Systems (PPBS), and cost-utility systems in school administration. A model for further analysis is presented following the study report. (JK)