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There are four stores in an area, with characteristics as follows: Travel time (average) Store R S T U 32 minutes 18 minutes 27
There are four stores in an area, with characteristics as follows: Travel time (average) Store R S T U 32 minutes 18 minutes 27 minutes 23 minutes Size (sq. ft.) 8000 1800 4400 1000 If lambda (A) is assumed to be 3, what are: a) the attractions for the four stores? b) the probabilities that a customer in the area will visit each of the four stores?
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SOLUTION To calculate the attractions for the four stores we can use the following formula Attraction Size Travel time lambda Given that lambda is ass...Get Instant Access to Expert-Tailored Solutions
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