In the Huff Retail Location Model, the Value of λ Estimates______

question 20

Multiple Choice

In the Huff retail location model, the value of λ estimates______.

• A) amount of travel time to reach a service facility
• B) the importance of convenience in attracting customers
• C) the importance of travel time in attracting customers
• D) the cost of transportation for a customer

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Definitions:

Numeric Ratio

A comparative figure showing the relative sizes of two quantities expressed as a quotient.

Written Analysis

The process of critically evaluating or discussing a subject in written form to understand its components or relationships.

Bins

Storage containers or categories used in data analysis for grouping data points, or in physical organization to sort items.

Measurement Values

Quantitative data obtained from measuring objects or events, used for analysis or comparison.