The owner of the parking lot of Problems 4-21 and 4-22 is planning an expansion of her lot to provide adequate demand for the following 10 years. If she has estimated that parking demand for all categories will increase by 3% a year, determine the number of additional parking bays that will be required.
What will be an ideal response?
Find space-hours of demand in 10 years:
(1 + 0.03)10 (2,294) = 3,083 space hours
Additional space hours = 3,083 – 2,294 = 789
Find number of spaces:
(0.90)(9)(N) = 789
N = 97.41; use N = 98 spaces
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