Prompt: The objective of this case study is to analyze data and make recommendations for the...
Prompt: The objective of this case study is to analyze data and make recommendations for the improvement of the water quality in a local lake Describe the required data and the rationale for using the travel cost method. Prepare your analysis as though you were hired by an influential association of homeowners and businesses that are interested in the local lake's water quality. The analysis and recommendations you provide will help determine the benefits for improving the water quality of...
Estimate the total economic benefit of the lake by calculating the consumer surplus (or the area under the demand curve). This results in a total estimate of economic benefits from the lake uses around $23,000 per year, or around $14.38 per visit ($23,000/1,600). Remember that the objective is to determine whether it is worthwhile to spend money to protect the lake by implementing programs to improve the water quality. If the actions cost less than $23,000 per year, the cost...
Calculate the average round-trip travel distance and travel time for each zone. Assume that people in Zone 0 have a travel distance and time of zero. Every other zone has increasing travel time and distance. Next, using average cost per mile and per hour of travel time, calculate the travel cost per trip. A standard cost per mile for operating an automobile is readily available from AAA or similar sources. Assume that cost per mile is $.30, or use the...
1. Suppose we want to use the zonal travel cost model to estimate the total recreational benefits generated by Green Lakes (or the total value the visitors assign to this park). Let's also assume that each of the visitors pay an admission fee of $10, and all the visitors come to the area from 3 different zones. The AAA in its annual report mentions that for all three zones, the vehicle operating costs (gas, insurance, depreciation) are $1 per mile....
8. A water management policy proposal is being discussed by City Z to preserve Lake Pearl in its territory. This policy allows City Z to upgrade its water infrastructure and to establish a water quality monitoring program. The goal is to improve water quality of Lake Pearl from Level II (water quality index=50) to Level I (water quality index=100). 1) A stated preference survey among a sample of residents (100 people out of 10,000 total population in City Z) was...
Assume staff at the lake has records of the number of visitors and their zip codes. This will be used to calculate the total number of visits per zone over the last year. To extend the value of the analysis, explain the value of more precise data and what it takes to analyze this additional data.
Please use the gravity model to determine the number of the zone-to-zone trips based on data listed in the following tables. The trip production for each zone are more reliable Assume Ky 1 (20 points) Produced and attracted trips for each zone Zone Trip productions Trip attractions 4 500 330 Total 1250 1250 350 230 170 250 150 520 Travel time between zones Zone 4 4 4 4
let the number of recreational visits to a beach per year be represented by Q,and the travel cost in dollars to the beach be represented by P. Suppose the estimated recreational inverse demand function is P = 2,000-500Q+ 500q, where q represents a measure of water quality in units. a.Suppose some visitor’s travel cost to the beach is $30 per trip. If the current water quality is zero, how many trips per year to the beach will this visitor make...
Question 5 (0.5 points) Use the data in the table below to answer the question. Number of Visits 0 1,000 2,000 3,000 Total Cost $100,000 $130,000 $160,000 $190,000 What is the average variable cost (on a per visit basis) if the number of visits is 3,000? Question 5 options: $ 30 $ 50 $ 63 $ 100
Weisgarber Corporation is conducting a time-driven activity-based costing study in its Customer Service Department. The company has provided the following data to aid in that study: Weisgarber Corporation Customer Service Department Data Inputs Resource Data: Number of employees 24 Average salary per employee $ 37,710 Weeks of employment per year 50 Minutes available per week (40 hours × 60 minutes) 2,400 Practical capacity percentage 90 % Activity Data: Processing Orders Resolving Queries Processing Credit Reviews Minutes per unit of the...