TTE4201 HW_1_Solutions

TTE4201 HW_1_Solutions - This excludes the transfer time in...

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PROBLEM #5 You are going to travel from Mythaca to Denver (1,200 miles). There are two choices: Flight 333 is non-stop and takes 3 hours, while Flight 444 requires that you change planes in St. Louis, with a total time to Denver of 4 hours. The time to change planes in St. Louis is 40 minutes. The difference in flight distance is negligible. Assume that it takes 30 minutes to drive the 20 miles from your home to the airport and that you must arrive at the airport 90 minutes early to check in. When you land in Denver, it takes 20 minutes to get your luggage and an additional 40 minutes to ride to the downtown hotel 30 miles from the airport. (a) What is the percent difference in the air speed for Flights 333 and 444?
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Unformatted text preview: This excludes the transfer time in St. Louis. (b) What is the percent difference in the speed of air travel for Flight 333 and 444? This includes the transfer time in St. Louis. (c) What is the percent difference in the total origin-to-destination (home-to-hotel) speed for Flight 333 and 444? The airfare for the non-stop Flight 333 is $500, whereas the ticket for Flight 444 with the transfer at St. Louis is $360. Assume that all other costs are the same at $60 and that you value your time at $50 per hour. (d) Which flight is cheaper to you? By how much? (e) Under which conditions would you choose the more expensive flight? (f) At what value of time (VoT) would the two flights be equally expensive?...
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TTE4201 HW_1_Solutions - This excludes the transfer time in...

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