1 1. A city has a utility function for use in a logit model of the formU = -0.075A -0.05W-0.04R -0.02Cwhere A is the access time in minutes, W is the waiting time in minutes, R is the ridingtime in minutes, and C is the out-of-pocket cost in cents.(a) What modal distribution would you expect, using the following values for A, W, R, andC, for the four modes used in the city.ModeAutoRailBusBikeA67101W110150R25153545C300756010(b) The city is seriously thinking of subsidizing rail and bus by 50%, encouraged bikingby constructing bike paths and thus reducing biking time by 20%, and increasing autocosts (through higher parking charges) by 10%. What is likely to be the new modaldistribution with these charges?

This method quantifies the significance of changes in mean frequencies of individual modal…

1. A city has a utility function for use in a logit model of the form U = -0.075A-0.05W-0.04R -0.02C where A is the access time in minutes, W is the waiting time in minutes, R is the riding time in minutes, and C is the out-of-pocket cost in cents. (a) What modal distribution would you expect, using the following values for A, W, R, and C, for the four modes used in the city.

1. A city has a utility function for use in a logit model of the form U = -0.075A-0.05W-0.04R -0.02C where A is the access time in minutes, W is the waiting time in minutes, R is the riding time in minutes, and C is the out-of-pocket cost in cents. (a) What modal distribution would you expect, using the following values for A, W, R, and C, for the four modes used in the city.

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 24P

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