Frank's used cars has sales of $807,200, total assets of $768,100, and a profit margin of 6.68 percent. the firm has a total deb
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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.
