Engineering, 17.06.2020 17:57 NycLife

A traveler is making a trip from Boca Raton to Miami Airport. This traveler has two options: ridingthe Tri-Rail train or taking an airport shuttle. There are two alternative specific attributes in the travelerâ€™s utility function: travel time and travel cost. The values and estimated parameters of these attributes in the utility function are: Tri-Rail Airport Shuttle Parameter
Travel Time(min) 75 45 -0.01
Travel Cost 6 35 -0.1

Required:

a. Using the Logit model, what is the probability for the traveler to take Tri-Rail, and Airport Shuttle?
b. What is the value of time of the traveler?

Answers: 2

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A traveler is making a trip from Boca Raton to Miami Airport. This traveler has two options: ridingt...

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