Using the following information, determine the location quotient for this industry. Percentage of employment in financial services industry within the local community: 15%, Percentage of employment in financial services industry for the entire U.S.: 4.4%.
A) 0.3
B) 3.4
C) 10.6
D) 19.4

Question

Quizplus · Accepted Answer

The location quotient (LQ) is calculated by dividing the percentage of local employment in a specific industry by the percentage of employment in that industry for a larger area or the entire country. In this case, LQ = (15% / 4.4%) = 3.4.

Using the Following Information, Determine the Location Quotient for This