Eighth grade students, randomly assigned to three criterion performance levels, studied matrix algebra in three programed lessons. Student achievement, ability, time spent, and other measures were obtained; and minimal variance criterion performance levels, analogous to production isoquants, were attained. A Cobb-Douglas (log-linear) function was estimated by regression, with output (criterion levels) exogenous and time to mastery used as a dependent variable. The use of the function to predict the time required for various student ability and performance combinations is illustrated. Costs and implications for equity/efficiency decisions in school management and finance are discussed under various assumptions. A companion document is EA 005 176. (Author)