In a Model Urban Hierarchy,the Population of a City,town or Village

question 35

Multiple Choice

In a model urban hierarchy,the population of a city,town or village is inversely proportional to its rank in the system (i.e.if the largest city is 4 million the second will be 2 million or 1/2,the third will be 1/3 and so on) .This is known as

• A)central place theory.
• B)rank-size rule.
• C)trade area ordering.
• D)a statistical coincidence.

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Definitions:

Capital Budgeting

The process used by businesses to evaluate and decide on major investments or expenditures.

Monte Carlo Simulation

A statistical technique that uses random sampling and variability to predict outcomes of a process, often used in finance to model risk and uncertainty in investment portfolios.

Simulation

The process of creating a model to study the behavior of a system or its components under various conditions.

Capital Budgeting

The process of assessing and planning for a company's long-term investment opportunities and expenditures to ensure profitability and expansion.