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This paper describes a packet network design and analysis (PANDA) model which captures the important features of different packet technologies. This model evolved from many iterations with technology developers and network planners over several years. The main contribution is a methodology for designing low-cost backbone packet networks with satisfactory performance which is both practical and useful. This methodology is useful for investigating cost/performance tradeoffs of various network capabilities and components, thus providing a means for identifying potential cost and performance bottlenecks for different packet technologies and to guide capability requirements for new technologies.