lem 1: Applic f Logit M The following equation represent the utilitics for different transportation modes in a city: U- a-0.25X, -0.032X2 -0.015X3 -0002X4 Where a is mode-spccific constant x, is access plus egress time in minutes X2 is waiting time in minutes X, is in-vehicle time in minutes X, is out-of-pocket cost in cents For a particular origin-destination pair, the forecasted number of daily trips is 5,000. Between this OD pair there are two alternative modes available, bus and auto. l'he attributes of these two modes are shown in the table below Attributes a ,,, 20 0.22 10 15 40 Auto 0.12 5 100 Bus 50 a. How many trips between this OD pair will be taken by bus? By car? b. The city major wants to increase bus ridership and has the following two policy options: (1) lower bus fare from S0.50 to $0.20; and (2) place a parking surcharge of $2.00 per vehicle in all zones. Which policy would you recommend to the mayor? Compute the logsum under the base case scenario and under each of the two proposed new policies. How will cach of the two proposed policies influence users as measured by consumer surplus? C