reported estimate differs from the standard, in that all trip 



costs (not just vehicle operating costs) are included. In 



addition, the estimate is derived from hunter survey data. The 

 estimated equation is as follows: 



3) TOTLCST = 17.86 + .30 RDTRDIS 



(t-statistics) : (2.09) (30.90) 



Adjusted R-square = .62, Observations - 583 ,F-statistic = 954.93 



where: 



TOTLCST = sum of reported hunter expenditures on transportation, 



lodging, food, guide fees, and other purchases. 

 RDTRDIS = round trip distance from hunter's residence to area 

 hunted. 



This model shows that total trip expenditures (defined to 

 include transportation costs plus food, lodging, guide fees, and 

 other purchases) are a function of distance traveled to the area 

 hunted. The R-square statistic shows that the model has high 

 explanatory power. The coefficient on distance (-30) is 

 precisely estimated, as indicated by the high t-statistic value 

 for this parameter. The coefficient on distance can be 

 interpreted as the variable cost per mile traveled, or 30 cents 

 per mile. 



It should be noted that the estimate reported above is based 

 on the assumption that all missing values for hunter expenditures 

 are equal to zero. Some assumption on missing values was 

 necessary, since the total number of observations with complete 

 trip expenditure data was low. This occurred because many 



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