ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Isabelle is working on her real estate analysis project. She is gathering data that would help her figure out trends in demand and supply in the residential housing sector in La Verne. She calculated the Location Quotient for various employment categories, as shown in the table below:

| Employment industry | Number of employees in La Verne | Number of employees in the USA |
|---------------------|------------------------------|-------------------------------|
| Transportation      | 10,000                       | 15,000,000                    |
| Education           | 14,000                       | 19,000,000                    |
| Financial           | 13,000                       | 11,000,000                    |
| Health care         | 7,000                        | 15,000,000                    |

The Location Quotient that Isabelle has calculated for the transportation sector equals:

**Increase the number of decimal places to, say, 6 or more for any intermediate calculations.**

**Round your answer to TWO decimal places, for example, 1.23**
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Transcribed Image Text:Isabelle is working on her real estate analysis project. She is gathering data that would help her figure out trends in demand and supply in the residential housing sector in La Verne. She calculated the Location Quotient for various employment categories, as shown in the table below: | Employment industry | Number of employees in La Verne | Number of employees in the USA | |---------------------|------------------------------|-------------------------------| | Transportation | 10,000 | 15,000,000 | | Education | 14,000 | 19,000,000 | | Financial | 13,000 | 11,000,000 | | Health care | 7,000 | 15,000,000 | The Location Quotient that Isabelle has calculated for the transportation sector equals: **Increase the number of decimal places to, say, 6 or more for any intermediate calculations.** **Round your answer to TWO decimal places, for example, 1.23**
Expert Solution
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Step 1

Location Quotient is defined as a statistic which is used to measure the industrial specialization of a region compared to a larger geographical area, such as a nation. 

Given, 

Economics homework question answer, step 1, image 1

 

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