Case study 1: A federal transportation agency intends to implement ten different highway improvement projects to...

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Case study 1: A federal transportation agency intends to implement ten different highway improvement projects to increase safety and measure project effectiveness in terms of number of crashes avoided and number of jobs created. However, agency works upon limited fixed annual budget. Project Number of crashes avoided Number of jobs created Cost (thousands of S) 1,000 55 16 2 60 20 500 1,500 2,000 2,500 3 45 55 4 16 45 20 50 6. 62 12 900 7 25 35 2,200 1,800 8. 24 33 9. 40 18 1,200 10 38 32 1,400 1. Based on the data presented in case study 1, prioritize the project implementation while considering number of crashes avoided and number of jobs created separately. 2. If the agency in case study 1 is working on a limited budget while aiming to maximize the number of crashes avoided and the number of jobs created, prioritize the projects. Assume that the number of crashes avoided, and number of jobs created have equal preference or weightage. (Note: For simplicity, ignore normalization or Utility scale) 3. Which projects will be implemented in Q.2 if the agency has available budget: (a) $ 7.5 Million (b) $ 11 Million 4. Are there any funds left unutilized in Q3 (a) and (b) after selecting the optimal number of projects? If yes, then write a mathematical program to minimize the underutilized funds left in each case (maximize the utility while expending all the funds). 5. Let us revisit Case study 1. If the agency aims to choose only one transit project instead of their prioritization using an incremental cost-effectiveness analysis which project will be selected for implementation while considering: (i) number of crashes avoided (ii) number of jobs created. Case study 1: A federal transportation agency intends to implement ten different highway improvement projects to increase safety and measure project effectiveness in terms of number of crashes avoided and number of jobs created. However, agency works upon limited fixed annual budget. Project Number of crashes avoided Number of jobs created Cost (thousands of S) 1,000 55 16 2 60 20 500 1,500 2,000 2,500 3 45 55 4 16 45 20 50 6. 62 12 900 7 25 35 2,200 1,800 8. 24 33 9. 40 18 1,200 10 38 32 1,400 1. Based on the data presented in case study 1, prioritize the project implementation while considering number of crashes avoided and number of jobs created separately. 2. If the agency in case study 1 is working on a limited budget while aiming to maximize the number of crashes avoided and the number of jobs created, prioritize the projects. Assume that the number of crashes avoided, and number of jobs created have equal preference or weightage. (Note: For simplicity, ignore normalization or Utility scale) 3. Which projects will be implemented in Q.2 if the agency has available budget: (a) $ 7.5 Million (b) $ 11 Million 4. Are there any funds left unutilized in Q3 (a) and (b) after selecting the optimal number of projects? If yes, then write a mathematical program to minimize the underutilized funds left in each case (maximize the utility while expending all the funds). 5. Let us revisit Case study 1. If the agency aims to choose only one transit project instead of their prioritization using an incremental cost-effectiveness analysis which project will be selected for implementation while considering: (i) number of crashes avoided (ii) number of jobs created.

Answer rating: 100% (QA)

1 In terms of the Number of Crashes avoided the best project is project 2 which avoids 60 crashes An... View the full answer