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

Question

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

Quizplus · Accepted Answer

The value of λ in the Huff retail location model estimates the importance of travel time in attracting customers to a particular retail location. It is based on the assumption that customers are more likely to patronize a store that is close in proximity to them and requires less travel time.

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