There some errors:
Change: if ( $('option[name=oage]:checked').val() != undefined ) {
To: if ( $('select[name="oage"] option:checked').val() != undefined ) {
Change: $('input[name=odeliv]').change(compute);
To: $('input[name="odeliv"]').on('input', compute);
In order to convert text to number you can add a + sign before the val():
+$('input[name=odeliv]').val();
The snippet:
function compute() {
  if ( $('select[name="oage"] option:checked').val() != undefined ) {
    var a = +$('input[name=odeliv]').val();
    var b = +$('select[name=oage]').val();
    var c = +$('select[name=otime]').val();
    var total = (b * c) + a;
    $('#result').val(total);
  }
}
$(function () {
  $('select[name="oage"]').on('change', compute);
  $('input[name="odeliv"]').on('input', compute);
  $('select[name="otime"]').on('change', compute);
  $('input[name="odeliv"]').trigger('input');
});
<script src="https://ajax.googleapis.com/ajax/libs/jquery/2.1.1/jquery.min.js"></script>
<form>
    <select name="oage">
        <option value="1">1</option>
        <option value="2">2</option>
        <option value="3">3</option>
    </select>
    <input name="odeliv" type="number" value="1">
    <select name="otime">
        <option value="1">1</option>
        <option value="2">2</option>
        <option value="3">3</option>
    </select>
    <input name="result" id="result" type="number" value="">
</form>