The safety performance function for injury crashes for a section of highway is given in form of

Fantastic news! We've Found the answer you've been seeking!

Question:

The safety performance function for injury crashes for a section of highway is given in form of an equation as follows. The safety performance function is based on certain soft mitigation measures proposed for the said highway segment

L(0.3)(0.02)(AADT^0.6)
SP= Crash per year

Currently, AADT is 5500 veh/day. The length of the highway segment is 3 miles and the total injury crashed over the last 2 years are 15 respectively.

Determine the long-term average number of injury crashes based on data set and user safety benefits in monetary terms due to a reduction in an injury crash. Resulting from the safety improvement ( Assume K=0.95 and Vehicle occupancy rate=1).

Hint= The long-term average number of injury crashes M at a given site is computed as M= W(NC) + (1-W)(X/N)

NC= Expected number of intersection-related injury crashes per year for similar site locations and conditions NC=SP.

W= Relative weight for this type of crash.

X= Number of crashes observed over N years at a given site.

W= K/K+Nn

K= Over dispersion parameter (The measure of dispersion) in crash frequencies of location.

n= Number of years of observation.

The above-stated question reveals annual benefits in terms of injury crash cost savings. Determine the net present worth NPV of the improved safety scenario over the do-nothing scenario here you have the initial cost of the project as 0.5 million with an estimated life of 25 years. The maintenance and operation cost of the project is $0.25 million and the salvage value of $0.1 million. From your calculation state whether the improvement scheme is economically feasible or not. Also, state what will happen to NPV value if an increase in traffic volume is considered assuming the interest rate is 4%.