In the Huff retail location model, the value of $\lambda $ 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.

Question

In the Huff retail location model, the value of $\lambda  $ 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.

Quizplus · Accepted Answer

F1F1F1S1F1F1F10 estimates the importance of travel time in attracting customers in the Huff retail location model. It is a parameter that determines the probability of a customer visiting a particular service facility based on the travel time required to reach it.

In the Huff Retail Location Model, the Value Of λ\lambda λ

In the Huff Retail Location Model, the Value Of $\lambda$