Question: Problem 6 ( 1 0 points ) . Suppose, there are two modes of transportation available between two cities, Bus and Auto, with the following
Problem points Suppose, there are two modes of transportation available between two cities, Bus and Auto, with the following utility functions: where is the travel time min and is the outofpocket cost dollars with the following values: Bus: Auto: With these values of and determine:
a the utility of each mode of transportation, and
b the probability of selecting each mode of transportation.
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