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Q.	How do I place a dollar value to my time spent on an activity?	Related Search: Small Business
	When running a business, how does an individual value his or her time in order to evaluate whether certain activities are valuable? Granted there is no cookie cutter methodology to this, but what are some general methods to approach this issue?
A.	I think it would be easy ... charge what people are willing to pay. If you get more business than you can keep up with, than you're not charging enough. If you are begging for customers maybe you need to lower prices. If you're just starting out you start out low so people will try you out. And as you get better and people begin to like your services you raise the prices a little so you can actually make some profit.

Q.	Why is it important to consider time value?	Related Search: Psychology
	In order to improve my planning skills at work, I was told in my assessment that I needed to get more aware of the value of time. What does it exactly mean?
A.	opportunity cost... its like the "theres no such thing as a free lunch" because even though someone is buying you that "free lunch" you are losing the time it takes you to eat (when you could have been doing something else)

Q.	When was the last time the US dollar greatly lowered in value?	Related Search: Economics
	I am doing a paper on the recent devaluation of the US dollar and I want to compare the contemporary conditions with a previous fall in the value of the US dollar so can anyone tell me when the last time the US dollar fell this sharply was.
A.	Use Yahoo link below ... For a long term comparison you need another currency (Yen, Euro, ...) or gold to chart against and then you are also looking at the changes in value of those currencies in the world. The good news is that these changes have made US goods more attractive (cheaper) to foreign buyers which should translate into increased exports for US companies.

Q.	What will happen for Meter Strobing time if I forcing a current value of zero ampere using a instrument?	Related Search: Engineering
	Using some instrument, I'm forcing the current with the value of 0 mA. After that I'm strobing the meter of another instrument. Is forcing the o valued current will take more time that of forcing with some current value?
A.	Your english is making this very difficult. Let me interpret. "does forcing current to a value of zero take more time than forcing current to a (non-zero) value?" I need a lot of detail about this problem to answer this correctly, but I can make some generalizations. No, zero current is a value just like 10 mA is. But forcing a current to any value will take a time that is determined by the accuracy to which you want to set the current. Forcing 10 ma ± 0.1 ma is fast, forcing 10 ma ± 0.001 ma takes more time. The inductance and capacitance of the load will also change the time it takes for the current to settle to the correct value. Actually, forcing zero current can be very fast, just open the wire. Zero current is an open circuit, so if you use a transistor switch, the current can be set to zero quickly, but again, it depends on the load, and the voltage and current levels needed. .

Q.	How do I calculate a negative time value in an excel spreadsheet?	Related Search: Software
	I am making a time sheet for a job I'm doing. There are specified hours I am supposed to be working on particular functions and I have those hours in the speadsheet as well as the actual hours worked. I want to calculate the difference between the two, but if the number comes out negative (meaning I worked more than the specified amount in a particular area) it won't show it. I can't get it to show a negative time value. Any suggestions? dipak - That was the first thing I tried. You see, I want a NEGATIVE value for the time difference and that won't allow me to do that. Thanks anyway.
A.	I think time format cant be negative.. One thing you can do is to insert a separate column that includes only the hours that you worked more than required.. (Using an IF function). But if you want the answer in the same column, try the following formula.. =IF (D2>E2,(D2-E2),CONCATENATE (ROUNDDOWN ((D2-E2)24,0),".",ROUND (-MOD ((D2-E2)1440,-60),0) )) D2= Required hrs E2 = Actual hrs (Change these things as you want). Keep the number format to HH:MM If it is a positive figure, it will display the answer in the correct time format. Eg. 2:15 which means 2 hrs & 15 mnts But if it is a negative, the answer will look like -2.15 (with the negative sign but no colon.) If you do any other calculations based on these figures, you can't get correct answers since formats are different. In that case, you'll have to keep them both in the same format. So if you are going to do any calculations, let us know..

Q.	What is the smallest value of n such that an algorithm whose running time is 100n2 runs faster than an algorit	Related Search: Programming & Design
	What is the smallest value of n such that an algorithm whose running time is 100n2 runs faster than an algorithm whose running time is 2n on the same machine?
A.	There are no integers such that 100n^2 < 2n. Do you mean 2^n rather than 2*n? for the right side? Plot 2 curves, y=100n^2 and y=2^n. I think they cross around n=16.

Q.	Does a diamond ring appreciate in value from the time it was purchased?	Related Search: Other - Beauty & Style
	I am interested in selling a diamond ring that I purchased 4 years ago. Does the diamond appreciate in value over time? If the ring is kept in excellent condition, would it now be worth the same amount (or more)? Thanks in advance, I really appreciate it!
A.	This is a bit "tricky" to answer. In truth, YES...A Diamond Ring purchased (4) Years ago will have gone up in value if still in new shape, HOWEVER..... If you were to sell it, you most likely would not get what you paid into it. REASONS: 1) Average Mark-Up on Retail Jewelry is 400%. 2) Most places that "buy" jewelry pay 20 cents on the Dollar 3) The Diamond Price Market has only gone up around 10% in the last (4) Years 4) Although the Gold Market has increased sharply, a Ring usually only contain 4-7 grams of metal. Not enough to warrant a sharp price increase. The reason I say "YES" is that if you were to go to the same store and "re-buy" you ring, you would pay more based on these aspects.

Click on the word below to see the definition:

This article is about monetary valuation of time. For discounted present value, see time value of money.

In transport economics, the value of time is the opportunity cost of the time that a traveller spends on their journey. In essence, this makes it the amount that a traveller would be willing to pay in order to save time, or the amount they would accept as compensation for lost time.

One of the main justifications for transport improvements is the amount of time that travellers will save. Using a set of values of time, the economic benefits of a transport project can be quantified in order to compare them to the costs (thus forming the basis of cost-benefit analysis). In particular, savings (or, for that matter, increases) in travel time form part of the change in consumer surplus for a transport project.

Values of time are used to calculate the non-monetary costs incurred as part of a journey, so that the generalised cost of the journey (a combination of both monetary and non-monetary costs) can be calculated.

The value of time varies considerably from person to person and depends upon the purpose of the journey, but can generally be divided into two sets of valuations: working time and non-working time. This division is appropriate because the value of working time (i.e. time spent travelling in the course of work) is calculated differently from the value of non-working time (i.e. time spent travelling outside work).

1 Working time
2 Non working time
3 External links
4 See also

[edit] Working time

Working time is subject to the forces of the labour market, and can thus be valued in a relatively straightforward manner. The value of working time is the opportunity cost of that time to the employer, which is generally equivalent to the wages of the worker.

For example, if a worker on a salary of £20 per hour travels to a meeting, the value of time in that case is £20 per hour, because that is the amount the employer would be willing to pay to reduce travel time (as travel time can be considered to be "wasted", i.e. not spent working).

In practice, time spent travelling on certain modes (e.g. train) can sometimes be used to carry out some work, whereas time spent using other modes (e.g. car) may not be available at all, so the value of time may not exactly match up with the salary of the traveller - for example, if the £15/hour employee could carry on doing some work on a train journey to the meeting, but couldn't do so if they drove there, then the value of time on the train journey might be lower, as the employer is less willing to pay to save time on that mode.

The UK Department for Transport calculates average values of time for travel on various modes of transport so that these values can be used to appraise transport projects as part of its New Approach to Appraisal [1]. Some examples are given below in 2002 prices:

Car drivers: £26.43 per hour
Car passengers: £18.94 per hour
Bus passengers: £20.22 per hour
Rail passengers: £36.96 per hour*
Underground passengers: £35.95 per hour*
Walkers: £29.64 per hour
Cyclists: £17.00 per hour

/* Skewed by London wages

[edit] Non working time

This is time spent outside work, which might include journeys to and from work and leisure journeys. Since this time is not valued in a market, it can only be estimated from revealed preference or stated preference analysis techniques, where the real or hypothetical choices of travellers between faster, more expensive modes and slower, cheaper modes can be examined.

For example, if a traveller has a choice between a coach which takes six hours and costs £10, or a train which takes four hours and costs £30, we can deduce that if the traveller chooses the train, their value of time is £10 per hour or more (because they are willing to spend at least £20 to save two hours' travel time).

The difficulty in narrowing down the actual value of time from a pair of choices means that hypothetical situations are generally used (the stated preference technique) to deduce values of time.

The value of non-working time is linked strongly to utility theory.

[edit] External links

Values of time and operating costs - UK Department for Transport WebTAG (Web Transport Analysis Guidance)
Value of travel time savings in the UK: Summary Report - DfT-commissioned report by PJ Mackie et al, January 2003.
Value of travel time savings in the UK: Full Report - DfT-commissioned report by PJ Mackie et al, January 2003.

Category: Transport economics

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