The Green Bus company currently operates a commuter service from Pleasantville to downtown Large City, capturing...
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The Green Bus company currently operates a commuter service from Pleasantville to downtown Large City, capturing 18.1 percent of the peak period travel market in the corridor. The utility function for each mode m is: with a auto) = -0.5, and a(Green Bus)=0. Variable C L V(m) = a(m) - 2.5 C(m) -0.18 L(m) -0.40[A(m) + W(m)] A W Description Out-of-Pocket Costs ($) In-Vehicle Travel Time (min.) Walk Time (min.) Wait Time (min.) Auto 3.90 26 4 0 Green Bus 1.60 38 8 10 A. [10 points] Logit model. Verify that P(Green Bus) = 0.181. Show your calculations clearly. B. [10 points] The Green Bus Company is worried. Suddenly, the Red Bus Company announces it will begin to offer peak commuter service from Pleasantville to Large City next week with attributes identical to the existing Green Bus service. The two bus companies will be running buses on the exact same schedule. What is the probability an individual will take the Green Bus? The Green Bus company currently operates a commuter service from Pleasantville to downtown Large City, capturing 18.1 percent of the peak period travel market in the corridor. The utility function for each mode m is: with a auto) = -0.5, and a(Green Bus)=0. Variable C L V(m) = a(m) - 2.5 C(m) -0.18 L(m) -0.40[A(m) + W(m)] A W Description Out-of-Pocket Costs ($) In-Vehicle Travel Time (min.) Walk Time (min.) Wait Time (min.) Auto 3.90 26 4 0 Green Bus 1.60 38 8 10 A. [10 points] Logit model. Verify that P(Green Bus) = 0.181. Show your calculations clearly. B. [10 points] The Green Bus Company is worried. Suddenly, the Red Bus Company announces it will begin to offer peak commuter service from Pleasantville to Large City next week with attributes identical to the existing Green Bus service. The two bus companies will be running buses on the exact same schedule. What is the probability an individual will take the Green Bus?
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Managerial economics applications strategy and tactics
ISBN: 978-1439079232
12th Edition
Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris
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