Crash Rate Calculations
Crash rates are calculated using the equations shown below. The crash rate unit is the ‘rate per million vehicle miles traveled’ and the severe crash rate unit is the ‘rate per hundred million vehicle miles traveled’.
The benefit-cost calculation is according to HSM methods and uses the net present value equation to account for inflation. The crashes reduced and the benefit-cost ratio shown in the application is based on the entire service life of the proposed treatment. Calculations use the following equations:
The discount rate used is 3%. The CMF and Service Life are user-defined inputs. Crash costs are as follows:
Serious Injury: $1,961,100
Minor Injury: $122,400
Possible Injury: $62,500
No Injury: $3,200