Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(10 points) A total of 1,000 person-trips begin in a residential area and end in the central business district (CBD) during the morning commute. Commuters

  1. (10 points) A total of 1,000 person-trips begin in a residential area and end in the central business district (CBD) during the morning commute. Commuters have two modes available, including private automobile and a bus rapid transit (BRT) system. The following utility function was calibrated using data from the study area from users of these two modes:

image text in transcribed

Data summarizing the operational characteristics and costs associated with each mode are provided in the following table.

Parameter

Private

Automobile

Bus Rapid

Transit

T1 = in-vehicle travel time (min.) 20 25
T2 = excess time (min.) 5 10
C = out-of-pocket cost (dollars) 3.50 1.00

Determine the total number of person-trips by each of the two modes using the multinomial logit model.

Uk=0.2T10.05T20.5C

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions