Lynchburg has two old four-lane roads that intersect, and traffic is controlled by a standard green, yellow,
Question:
Lynchburg has two old four-lane roads that intersect, and traffic is controlled by a standard green, yellow, red stoplight. From each of the four directions, a left turn is permitted from the inner lane; however, this impedes the flow of traffic while a car is waiting to safely turn left. The light operates on a two-minute cycle with 60 seconds of green-yellow and 60 seconds of red for each direction. Approximately 10 percent of the 12,000 vehicles using the intersection each day are held up for an extra 2 full minutes and average 3 extra start-stop operations, solely due to the left-turn bottleneck. These delays are realized during 300 days per year. A startstop costs 3 cents per vehicle, and the cost of the excess waiting is \(\$ 18 /\) hour for private traffic and \(\$ 45 /\) hour for commercial traffic. Approximately 3,000 of the vehicles are commercial, with the remainder being private. The potential benefit to the public is that the cost of extra waiting and start-stops can be reduced by 90 percent through a project to widen the intersection to include specific left-turn lanes and use of dedicated left-turn arrows. If the planning horizon is 10 years and the city uses a 7 percent interest rate, what is the most that can be invested in the project and maintain a \(B / C\) ratio of 1.0 or greater? There will be no additional maintenance cost.
Step by Step Answer:
Principles Of Engineering Economic Analysis
ISBN: 9781118163832
6th Edition
Authors: John A. White, Kenneth E. Case, David B. Pratt