8.8. A locally owned department store samples two customers in each of five geographic areas to estimate consumer spendi

[answerhappygod]

8 8 A Locally Owned Department Store Samples Two Customers In Each Of Five Geographic Areas To Estimate Consumer Spendi 1 (34.58 KiB) Viewed 30 times

8 8 A Locally Owned Department Store Samples Two Customers In Each Of Five Geographic Areas To Estimate Consumer Spendi 2 (71.21 KiB) Viewed 30 times

8 8 A Locally Owned Department Store Samples Two Customers In Each Of Five Geographic Areas To Estimate Consumer Spendi 3 (39.55 KiB) Viewed 30 times

8.8. A locally owned department store samples two customers in each of five geographic areas to estimate consumer spending in its home appliances department. It is estimated that these customers are a good sample of the 10,000 customers the store serves. The number of customers in each area is C₁ = 1,500, C₂=2,500, C3= 1,000, C₁ = 3.000, and C = 2.000. It is found that the two consumers have the following budgets in dollars for home appliances per year: B₁1=100, B12= 150: B21 = 75, B22= 100; B31= 125, B32= 125; B41 = 100, B42 = 120; and B51= 120, B52 <= 125. a. Using the Huff retail location model, estimate annual home appliance sales for the store. b. Bull's-Eye, a chain department store, opens a branch in a shopping complex nearby. The Bull's-Eye branch is three times larger than the locally owned store. The travel times in minutes from the five areas to the two stores (j=1 for the locally owned store. j = 2 for Bull's-Eye) are T₁120, T12= 15: 721-35, T22 =20, 731 = 30, 732= 25; T41 = 20, T42= 25; and Ts1 = 25. Ts2= 25. Use the Huff retail location model to estimate the annual consumer expenditures in the home appliance section of each store assuming that λ = 1.
36 www Problem 8.8 Use your results for homework problem 8.8 to answer the following questions. For store 1 (existing locally owned store) assume that 5₁ -1 and for store 2 (Bull's Eye new store) assume that 5₂ - 3 (three times the size) and lambda equals one. Question 22 (2 points) Listen What are the annual home appliance sales (in thousands)? Your Answer: Answer Question 23 (2 points) 4 Listen What are the expected sales (in 1.000's) for customer area 1? Your Answer: Answer Question 24 (2 points) 4 Listen What are the expected sales (in 1,000's) for customer area 2? Your Answer: Answer
7 33 36 Question 25 (2 points) 4 Listen What are the expected sales (in 1.000's) for customer area 3? Your Answer: Answer Question 26 (2 points) 41 Listen What are the expected sales (in 1.000's) for customer area 4? Your Answer: = Answer Question 27 (2 points) 4i Listen ▸ What are the expected sales (in 1.000's) for customer area 5? Your Answer: Answer Question 28 (2 points) Listen ➤ What are the expected sales (in 1.000's) for the local store? Your Answer Answer Question 29 (2 points) 41 Listan What are the expected sales (in 1.000's) for the Bull's Eye store? 4