CanGo is a small company that is getting bigger. Its employees are doing a lot o

Question

CanGo is a small company that is getting bigger. Its employees are doing a lot of traveling. One way to buy airplane tickets is by going to a free Web site like lowestfare.com and buying online. Suppose you are thinking of a vacation and wish to fly from New York City to San Francisco. Go to a travel site on the Web, such as lowestfare.com, and compare different flights. Most flights involve stopovers. Compare the time for a nonstop flight to a flight that requires a stopover. How much more would you be willing to pay for the nonstop flight? What does this say about how you value your time?

Explanation / Answer

We should first calculate the worth of your time. If your earning X Dollars per annum and spending Y hours per year in earning money, your productivity is X/Y.

Now the question is the purpose of your travel? Your travel can be

1. Business

If you are travelling for business, then question what is the worth of reaching early. in First come first served dealings with client early visit would help. if the business you are making is more than the difference in fares, then you should avoid stopovers.

If the visit is formalilty as the business deal is signed off and there is sufficient time between landing and meeting client. Then having stopover is better as it would save your flight fare and hotel costs.

2. Leisure:

If returning early from the trip helpys you to earn more by X/Y per hour. Then stopover is a loss for your. But returning early will not affect you as the preiod of trip has no impact on Business, then stopover would help you to save money as time is not worth more than the difference in fares.

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.