1. Determine the assumptions that govern estimates of the value of time lost driving, indicating which assumptions (if any) are more tenable than others. Justify your position.
2. Determine the best way to estimate the value of time. Justify your position.
3. Determine the best way to estimate the cost of a gallon of gasoline. Justify your position.
4. Determine the more reliable method to estimate driving speeds and miles per gallon by using (a) official statistics on highway traffic from the Environmental Protection Agency or by using (b) engineering studies of the efficiency of gasoline engines by the Department of Energy. Discuss any consequences of using one source rather than another. Justify your position.
5. Estimate the value of a life saved. Justify your position.
6. Determine which policy is preferable, (a) the 55-mph speed limit or (b) the 65-mph limit. Justify your position.
7. Provide at least two (2) academic or government resources to support your views.