  Network slicing has emerged as an integral concept in 5G, aiming to partition
the physical network infrastructure into isolated slices, customized for
specific applications. We theoretically formulate the key performance metrics
of an application, in terms of goodput and delivery delay, at a cost of network
resources in terms of bandwidth. We explore an un-coded communication protocol
that uses feedback-based repetitions, and a coded protocol, implementing random
linear network coding and using coding-aware acknowledgments. We find that
coding reduces the resource demands of a slice to meet the requirements for an
application, thereby serving more applications efficiently. Coded slices thus
free up resources for other slices, be they coded or not. Based on these
results, we propose a hybrid approach, wherein coding is introduced selectively
in certain network slices. This approach not only facilitates a smoother
transition from un-coded systems to coded systems but also reduces costs across
all slices. Theoretical findings in this paper are validated and expanded upon
through real-time simulations of the network.
