What Is It Called When Competing Companies Locate Next to Each

question 196

Essay

What is it called when competing companies locate next to each other? Why do they do this?

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Definitions:

Population Variance

A measure of the dispersion of a set of data points in a population from their mean value, representing how spread out the population values are.

Unbiased Estimator

A statistical estimator whose expected value equals the true value of the parameter it estimates.

Sample Mean

The arithmetic average of a set of sample values, used as an estimate of the population mean.

Population Mean

The average value of a characteristic in the entire population of interest.