Question

A travel market segment consists of 900 individuals. A multinomial logit mode choice model is calibrated for this market segment, resulting in the following utility function: U = B - 0.50C - 0.01T question Where C = out of pocket cost (dollars), and T = travel time (minutes). B, values are Bus transit 0.00 Rail transit 0.20 Auto 2.40 For a particular origin-destination pair, the cost of an auto trip, which takes 12 minutes is $3.00. Rail transit trips, which take 20 minutes, cost $2.00. Bus transit takes 40 minutes and costs $ 1.25. Find Number of trips will be done by rail

Select one:

a. 675 trips

b. 95 trips

c. 114 trips

d. 111 trips

Answer 1

Solution:

Answer: c. 114 trips

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