Question 2 – Ability to apply mathematics, engineering, planning and management principles Preamble: The GASB 34 requires that transportation infrastructure asset management practice adopt either the depreciation approach or the modified (preservation) approach. The latter which is prevalently used ensures that assets are maintained not lower than a pre-established minimum acceptable level of service. You are provided two sets of data, physical condition and maintenance cost in Exhibits 1 and 2, to complete the below tasks. (a) Use sample data in Exhibit 1 to perform the appropriate statistical inferential test to support or reject the hypothesis that the current year asset condition is similar to or better than the condition in the benchmark year, which will demonstrate your agency’s GASB 34 compliance or non-compliance. (b) In Exhibit 2, rearrange the listing of the asset based on the priority order of maintenance, starting with the top priority and ending with the lowest priority. Explain the metrics used for prioritizing your asset. Preamble: The new governor of a state in her effort to cut expenses has significantly reduced the allotment for transportation asset management, notwithstanding the mediocre condition of the road infrastructure. As the Director of Road and Bridge Infrastructure Asset Management, you have set a goal to reduce the average travel time on the transportation network in your jurisdiction while ensuring compliance with GASB 34 Modified Approach; i.e., Asset Preservation Method. Use the data in Exhibit 2 to perform the following tasks: (c) Formulate a linear programming problem for the above given scenario and determine the optimum maintenance policy (i.e. the miles of roads and the miles of bridges to be repaired in your network) based on the allocated funding, repair cost, and other stipulated constraints. Exhibit 1 – Physical Condition of Infrastructure Segment ID Peak Hourly Volume (VPH) Benchmark Scenario Roughness Index (IRI) Current Scenario Roughness Index (IRI) 101