Calculation Questions (1point): You are pondering upon two potential locations f

Question

Calculation Questions (1point): You are pondering upon two potential locations for your final retail outlet. The outlet will serve three potential markets, C1 (Demand -$10 million), C2 (Demand $5 million), and C3 (Demand- $7 million). The two locations are labeled R1 and R2. Time coordinates of the markets and two locations have been calculated as below. If the largest possible sizes for your stores are: R1-400,000 square feet and R2-300,000 square feet Time Coordin ates Location : 2 : 0 30 C2 | 40 | 60 40 20 60 50 40 50 C3 R1 Hints: S, /T E: expected demand from market i to location j P: probability of customers to travel from i toj C: customer demand at market i S: retail size of location j T: travel time between i and j a: a parameter, equals to 2 in this case. i: markets j: retail locations Time distance between two points. Tu-V(x,-) + (yi-y) What are the probabilities for customer from C1 to go to each location, R1 and R2? Hint: values of S/T square divided by their sum ravel Time Time ST Sum Market R 10 44 72

Explanation / Answer

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Answer:

Option: 4 R1 = 0.9639 , R2 = 0.0361

Explanation:

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