Study how two sets of citizens with differing levels of auto ownership (A=1 and A=2) choose between auto=a and bus=b. Le

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Study How Two Sets Of Citizens With Differing Levels Of Auto Ownership A 1 And A 2 Choose Between Auto A And Bus B Le 1 (141.2 KiB) Viewed 17 times

Study how two sets of citizens with differing levels of auto ownership (A=1 and A=2) choose between auto=a and bus=b. Let u=1. Tb-Ta=10 minutes for the first group of citizens where A=1 and Tb-Ta=-10 minutes for the second group of citizens where A=2. The ratios of the two groups of citizens where A=1 and A=2 are set to be a (0 <a> 1) and 1-a respectively. Given that the deterministic components of utility functions in the logit model are Va=1A+0.5-0.2 Ta, -(1) Vb= -0.2Tb (2) Question 1: Calculate the true aggregate share (i.e. logit-based probability) in terms of a. (i.e. Pa* of the whole population choosing auto.) Question 2: By naive method, give the estimated expression of aggregate share P. of the overall population in terms of a. a Question 3: By naive method, plot the P. – P against a. a a Question 4: When the error is max, what is the value of a?