Effectiveness ($\varepsilon$) of a heat exchanger is defined as:
\[
\varepsilon = \frac{\text{Actual heat transfer}}{\text{Maximum possible heat transfer}}
\]
For a cooling process, the effectiveness is calculated using temperatures as:
\[
\varepsilon = \frac{T_{h,in} - T_{h,out}}{T_{h,in} - T_{c,in}}
\]
Where:
$T_{h,in}$ = inlet temperature of the hot fluid = $80^\circ$C
$T_{h,out}$ = outlet temperature of the hot fluid = $45^\circ$C
$T_{c,in}$ = inlet temperature of the cold fluid = $30^\circ$C
Substitute the values into the formula:
\[
\varepsilon = \frac{80 - 45}{80 - 30} = \frac{35}{50} = 0.7
\]
Hence, the effectiveness of the heat exchanger is 0.7.