How would your conclusion change if mathew purchased

Assignment Help Business Economics
Reference no: EM13247426

To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out that traffic jams on the highway can lead to long delays making the trip 45 minutes. He preferred to travel along Shea Boulevard, which was longer (35 minutes), but rarely had traffic jams. Edith agreed that in case of traffic jams, Shea Boulevard was a reasonable alternative. Neither of them knows the state of the highway ahead of time.
After driving to work on the I-20 highway for 1 month (20 workdays), they found the highway to be jammed 3 times. Assuming that this month is a good representation of all months ahead, should Edith and Mathew continue to use the highway for traveling to work?
How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?
How would your conclusion change if Mathew purchased a new smart-phone app that could show the status of the highway traffic prior to their drive each morning, thus reducing the probability of them getting into a jam down to only 1day per month (where on this day, the app showed no traffic jam, but a jam developed in the meantime as they were driving along the highway).

Guided Response:
In 300 words or more, please, provide your response to the above discussion question. Please, show all your calculations and explain your answers. Further, comment on how the conclusions of this problem will change if there was no uncertainty and the highway always had traffic jams, whereas Shea Blvd was always traffic jam free? Is this scenario realistic and why? Respond substantively to at least two of your classmates' postings

Reference no: EM13247426

Questions Cloud

What is maximum possible value for equivalent capacitance : The series combination of a 4=mu F and a 3mu F capacitor is in series with the parallel combination of a 2 mu F, a 1 ? mu F, and a C - mu F capacitor, (a) What is the maximum possible value for the equivalent capacitance of the five capacitors
Why does it diminish as the consumer substitutes one product : What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
If you were the angel investor what is your certainty : If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk-averse, risk-neutral, or risk-lover?
Find the temperature of the environment : Scientists in a laboratory produce a sound wave in a simulated environment (air) with a velocity of 448 m/s. What is the temperature (in Kelvin) of the environment
How would your conclusion change if mathew purchased : To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out ..
Why do some business firms pursue a triple-bottom-line : Why do some business firms pursue a triple-bottom-line outcome while others focus only on profit maximization? Please, use a real company example to illustrate your points.
A company is considering a proposed new plant that would : A company is considering a proposed new plant that would increase productive capacity.  Which of the following statements is CORRECT?
What is the speed of sound in the substance : A 405 Hz sound wave travels through a substance. The wavelength of the sound wave is measured to be 2.7 meters. What is the speed of sound in the substance
What is the resistor voltage : A high-pass RC filter is connected to an AC source with a peak voltage of 18 V. The peak capacitor voltage is 5.27 V

Reviews

Write a Review

Business Economics Questions & Answers

  Real gdp and the cost level

Explain how do real GDP and the cost level change if the forecast of inflation turns out to be incorrect.

  Illustrate what is the likely bargaining negotiation outcome

Illustrate what is the likely bargaining negotiation outcome if the advertisers bargain by telling each newspaper that they're going to reach agreement with the other newspaper.

  Analyze demand of product

Which of the variables above is NOT statistically significant at the 0.05 level.

  Illustrate what are corresponding average tax rates

For proportional tax system presented in table 7, illustrate what are average tax rates for people earning $50,000, $100,000 and $200,000. Illustrate what are corresponding average tax rates in regressive and progressive tax systems.

  What values of py will bob buy only x

Bob consumes two commodities: x and y. For what values of py will Bob buy y, and for what values of py will Bob buy only x?

  The long-run industry supply curve

(The Long-Run Industry Supply Curve) A normal good is being produced in a constant-cost, perfectly competitive industry. Initially, each firm is in long-run equilibrium

  How should the federal resent react if they desire

In an effort to bring inflation down they had set interest rates at 5% in 2018. How should the federal resent react if they desire to bring inflation down to 3%. When will they achieve that goal? (Hint: maintain plenty of decimal places.)

  Marginal product of capital

The Marginal Product of Labor and the Marginal Product of Capital are given.

  Illustrate what is the revenue at the old price

A product has an arc elasticity of -0.8. at a price of $7.00, 1000 units are sold per period. In order to sell 1200 units, what will the new price be. Illustrate what is the revenue at the old price ($7.00)and the new price.

  Copyright owners of the materials is on you tube

you agree with the argument which the copyright owners of the materials mentioned should not be paid a fee if their material is on YouTube.

  Illustrate account in order to make a decision of policy

Illustrate what or considerations may be taken into account in order to make a decision on implementation of policy.

  How would you conclusion change for the winter months

How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd