Question

where cost is in dollars and time is in minutes. The cost of driving an automobile is $5.50 with a travel time of 21 minutes, while the bus fare is $1.25 with a travel time of 27 minutes. How many people will use the shared-ride mode from a community of 4500 workers, assuming the shared-ride option always consists of three individuals sharing costs equally

Answer 1

hi your question is lacking the required data here is the complete question

where cost is in dollars and time is in minutes. The cost of driving an automobile is $5.50 with a travel time of 21 minutes, while the bus fare is $1.25 with a travel time of 27 minutes. How many people will use the shared-ride mode from a community of 4500 workers, assuming the shared-ride option always consists of three individuals sharing costs equally

The mode choices includes automobile drive alone ( Dl ), automobile shared ride ( Sr ), bus ( b )

The utility functions are estimated as

UDL = 2.6 - 0.3 (cost dl) - 0.02 (travel time dl )

USR = 0.7 - 0.3 ( cost Sr ) - 0.04 ( travel time Sr )

UB = 0 - 0.3 ( cost b ) - 0.01 ( travel time b )

Answer options : a) 866 b) 2805 c)828 d)314

Answer : approximately 828 people would use the shared ride option ( c )

Step-by-step explanation:

Inputting the values into the estimated utility functions

UDL ( drive alone ) = 2.6 - 0.3 ( 5.5 ) - 0.02 ( 21 ) = 0.53

USR ( shared ride ) = 0.7 - 0.3 ( 5.5 ÷ 2 ) - 0.04 ( 21 ) = -0.69

UB ( bus ride ) = 0 - 0.3 ( 1.25 ) - 0.01 ( 27 ) = -0.645

In order to get the probability of the people that would use the shared ride mode we apply the logit model formulation

Psr =
`(e^(-0.69) )/(e^(0.53)+ e^(-0.69)+e^(-0.645) )`

hence Psr = 0.184

The number of people that would probably take the shared ride option would be calculated as:

0.184 * 4500 = 828

Answer 2

This question seems incomplete. Here is the detailed and complete question:

A work-mode-choice model is developed from data acquired in the field in order to determine the probabilities of individual travelers selecting various modes. the mode choices include automobile drive-alone (dl), automobile shared-ride (sr), and bus (b). the utility functions are estimated as follows: udl = 2.6 - 0.3(costdl) - 0.02(travel timedl) usr = 0.7 - 0.3(costsr) - 0.04(travel timesr) ub = -0.3(costb) - 0.01(travel timeb) where cost is in dollars and time is in minutes. the cost of driving an automobile is $5.50 with a travel time of 21 minutes, while the bus fare is $1.25 with a travel time of 27 minutes. how many people will use the shared-ride mode from a community of 4500 workers, assuming the shared-ride option always consists of three individuals sharing costs equally?

Answer: 828 workers will use the shared - ride mode.

Explanation: You can see the attached for a more detailed explanation.