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In: Finance

Use Huff’s law to compute the probability of consumers traveling from their homes to each of...

Use Huff’s law to compute the probability of consumers traveling from their homes to each of three shopping areas:

Square footage of selling space:

Location 1 = 15,000

Location 2 = 20,000

Location 3 = 25,000

Travel time:

To location 1 = 12 minutes

To location 2 = 18 minutes

To location 3 = 25 minutes Effect of travel time on shopping trip is 2.

For full credit you need to show your full equation AND explain how you used the equation to get your answers.

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