Question: Question 4 (25 points) Given the utilitj,r equation UK 2 aK 0.003X1 0.04X2 where X1 is the travel cost in cents and X2 is the

Question 4 (25 points) Given the utilitj,r equation UK 2 aK 0.003X1 0.04X2 where X1 is the travel cost in cents and X2 is the travel time in minutes a) Calculate the market shares of the following travel modes: Mode K a]: X1 X2 Automobile -0.20 120 30 Express bus -0.40 60 45 Reglar bus 43.60 30 55 b) Estimate the effect that a 50% increase in the cost of all three modes will have on the modal split

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!

2-33 Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Piedmont Corporation: 2011 Piedmont Corporation Direct...

9/14/10 12:39 PM Page 381 Chapter dug84356_ch06a.qxd 6 Rational Expressions Advanced technical developments have made sports equipment faster, lighter, and more responsive to the human body. Behind...

1. If extreme values occur in the data set, which of the following measures of central tendency are the most appropriate A. B. C. D. E. 2. The The The The The mean median mode variance standard...

1: GPS AMS 103, Spring 2017 Due: Thursday, February 9, 11:59 pm EST Quiz: Tuesday, February 14, in class Objectives To reinforce concepts relevant to GPS technology and the underlying mathematical...

1. A player throws a fair die and simultaneously flips a fair coin. If the coin lands heads, then she wins twice, and if tails, then one-half of the value that appears on the die. Determine her...

Supply Chain Management Introduction Outline What is supply chain management? Significance of supply chain management. Push vs. Pull processes utdallas.edu/~metin 1 A Generic Supply Chain Sources:...

Please note this Question has a column for cycling as well (not the same answer as previous questions posted) A survey of travellers in the community regarding their travel experiences yielded the...

seventh pages Chapter 3 Curve Sketching How much metal would be required to make a 400-mL soup can? What is the least amount of cardboard needed to build a box that holds 3000 cm3 of cereal? The...

IOE 419 Mark S. Daskin Service Operations Management IOE Department Winter, 2017 University of Michigan Problem set 4 DUE: MONDAY - February 20, 2017 Points: 100 points total Problem 1: Babette has...

Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...

In a Hopfield neural network configured as an associative memory, with all of its weights trained and fixed, what three possible behaviours may occur over time in configuration space as the net...

The SOA Clothing Retailer has an accounting system that uses the following documents: receiving report, sales order, sales invoice, purchase invoice, purchase requisition, and purchase order. One of...

A farmer focusing on the production of eco-friendly chicken eggs collects the following data about his output. In a sample of 50 eggs, the farmer finds the average egg to weigh 47 grams. The standard...

The statement of cash flows for Baldwin shows way happens in the cash account during the year.

Question 3 On February 28, 2018, Molega Ltd's general ledger contained the following liability accounts: Accounts payable $39,700 CPP payable 2.860 El payable 1,037 Sales tax payable 5.900 Employee...