Question: Answer must be unique. Please do not copy any answers online. Thanks The calibrated utility functions for auto and transit travel are: Auto: Va =-0.3-0.04

Answer must be unique. Please do not copy any answers online.

Thanks

Answer must be unique. Please do not copy any answers online. Thanks

The calibrated utility functions for auto and transit travel are: Auto: Va =-0.3-0.04 X-0.1 Y - 0.03 C Transit: Vt =-0.04 X-0.1 Y - 0.03 C where: V; = utility function of mode i To = access time X = in-vehicle (ride) time Y = out-of-vehicle travel time (e.g., walking and waiting) C = cost of travel in cents divided by income in $ A traffic zone has the following characteristics: Auto Travel Transit Travel In-vehicle time [minutes] 15 40 Out-of-vehicle time [minutes] 5 10 Travel cost [cents] 300 75 What is the probability that a person with an income of $10,000 will travel by transit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!