A drop amplifier provides amplification to counter the signal strength loss or "drop" in cable TV distribution networks, typically caused by splitters and length of cable.
The CDA10, for instance, provides a 10 decibel fixed amplification for the signal range from 54 MHz to 1 GHz, thus covering pretty much the entire range of carrier frequencies used in apartment / last-mile cable networks.
The drop amp is unlikely to inherently improve your cable TV reception: However, if there are splitters between the cable head-end equipment and your receiver unit, as is almost always the case, the best place to put it is before the nearest splitters, to boost the signal a bit before it gets attenuated by the splitter.
However, this isn't an out of the box solution, as your cables may already be running at designed signal strength, in which case a device like this will clip the signal and possibly cause deterioration, or even interruption of service.
If that part was found "on the street", then most likely it is no longer operational, and hence was trashed. If it "fell off a truck", however, you might consider returning it to the local cable operator.