An individual is planning to take an 800-mile trip between two large cities. Three possibilities exist: air, rail, or auto. The person is willing to pay $30 for every hour saved in making the trip. The trip by air costs $600 and travel time is 8 hours, by rail the cost is $450 and travel time is 16 hours, and by auto the cost is $250 and travel time is 22 hours. (a) Which mode is the best choice?
An individual is planning to take an 800-mile trip between two large cities. Three possibilities exist: air, rail, or auto. The person is willing to pay $30 for every hour saved in making the trip. The trip by air costs $600 and travel time is 8 hours, by rail the cost is $450 and travel time is 16 hours, and by auto the cost is $250 and travel time is 22 hours. (a) Which mode is the best choice?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An individual is planning to take an 800-mile trip between two large cities. Three possibilities exist: air, rail, or auto. The person is willing to pay $30 for every hour saved in making the trip. The trip by air costs $600 and travel time is 8 hours, by rail the cost is $450 and travel time is 16 hours, and by auto the cost is $250 and travel time is 22 hours.
(a) Which mode is the best choice?
Transcribed Image Text:An individual is planning to take an 800-mile trip between two large cities. Three possibilities
exist air, rail, or auto. The person is willing to pay S30 for every hour saved in making the trip
The trip try air costs $600 and travel time is B hours, by rail the cost is $450 and travel time is
16 hours, and by auto the cost is $250 and travel time is 22 hours
tal Which mode is the best choice?
Select)
Cost for Air Select
Cost for Auto 1Select
Cost for Rail
Select
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