SITUATION3: Under the data collected from the office of Department of Transportation and DPWH over the last 5 years indicate that for each fatality, there are 40 non-fatal injury accidents ($1500 present cost each) and 300 property damage accidents ($2000 present cost each). What is the breakeven value of statistical (VSL) needed to justify a highway project if i is 8%? The death rate on a particular three-lane road is 8 per 100 million vehicle-miles. Adding a lane would reduce this to 5 per million, and other accidents would cost $1.5M per mile to build, and annual maintenance would be 3% of the first cost. Assume that the lane would last 40 years. The road carries 10000 vehicle per day. Use reduction factor of 3/8 for all accidents. (Non-CE students no need to answer this item).

SITUATION3: Under the data collected from the office of Department of Transportation and DPWH over the last 5 years indicate that for each fatality, there are 40 non-fatal injury accidents ($1500 present cost each) and 300 property damage accidents ($2000 present cost each). What is the breakeven value of statistical (VSL) needed to justify a highway project if i is 8%? The death rate on a particular three-lane road is 8 per 100 million vehicle-miles. Adding a lane would reduce this to 5 per million, and other accidents would cost $1.5M per mile to build, and annual maintenance would be 3% of the first cost. Assume that the lane would last 40 years. The road carries 10000 vehicle per day. Use reduction factor of 3/8 for all accidents. (Non-CE students no need to answer this item).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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