approximates that of the Madison River fishermen. Accordingly, data 

 from Yellowstone County, modified as indicated below, has been applied 

 in completing the analysis for the Madison River 



It should be recognized that data gathered in the Yellowstone 

 County survey refer to the per-person, per-day expenditure of the aver- 

 age license holder, and not to the expenditure of the average fisher- 

 man in the field with whom this report is concerned. The difference be- 

 tween the expenditures of the average license holder and the average 

 fisherman in the field exists because the more avid fisherman, due to 

 the frequency of his trips (and greater use of his equipment), has a 

 lower per-day expenditure and has a greater chance of being inter- 

 viewed in the field than the occasional angler. Expenditures for the 

 average fisherman, then are expenditures for the average license holder, 

 weighted according to the number of times he went fishingo 



Modification of the Yellowstone County data in accordance with 

 the above principle, was accomplished as follows; the average season 

 expenditure for combined annual and investment items ($33. UO) was divided 

 by the average number of days spent cold-water fishing (12.5) to de- 

 termine the cost per day of $2,50 (rounded from $2.68). The propor- 

 tionate portion of the $2„50 chargeable to annual expenditures would be 

 $0.1(5 while the portion chargeable to investment expenditures would be 

 $2.05, 



Total Expenditures 



Summation of the average transportation and trip expenditures 

 for each year, plus the $2,50 assumed for annual and investment expendi- 

 tures results in a total daily expenditure per person as shown in Table 



Ho 



Table 11, Average Daily Expenditure per Person, Madison River, 



1950, 1951, and 1952 



Year 



Section 



Average Daily Expenditure per Person for 

 Transport- Trip \ Annual and Total 

 tation Items j Investment 



Items 



1950 Lower 



1951 Middle 



1952 Upper 



Application of the daily expenditure per person derived for 

 each section of the river to the estimated number of fisherman-days ^snd 

 yield in pounds of fish for the respective sections permit the deri- 

 vation of total expenditures, expenditure per mile of stream or surface 



30 



