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**

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:

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:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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

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,

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