Please help me in this one thanks Using an appropriate example, explain the purpose and importance of using theLocation Quotient (LQ) technique in assessing the state of the regional economy.Evaluate and justify the LQ values for each economic sector between District iand State j, as shown in Table 1 below:Economic SectorServicesManufacturingTotal EmploymentNational EmploymentinIndustry I in Year TTotal NationalEmploymentin Year TTable 1: Location Quotient for District i and State jEmployment Number (000¹) LQ 2030 Categorization LQ 2020District iState j20302020 20302020 203039449711562115140106212 255LocationQuotient4584=Regional EmploymentinIndustry I in Year TTotal RegionalEmploymentin Year T??1????Categoriza2020??

The Location Quotient (LQ) is a statistical measure used in regional economics and economic…

Using an appropriate example, explain the purpose and importance of using the Location Quotient (LQ) technique in assessing the state of the regional economy Evaluate and justify the LQ values for each economic sector between District and State j, as shown in Table 1 below:

Using an appropriate example, explain the purpose and importance of using the Location Quotient (LQ) technique in assessing the state of the regional economy Evaluate and justify the LQ values for each economic sector between District and State j, as shown in Table 1 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

Please help me in this one thanks

Using an appropriate example, explain the purpose and importance of using the
Location Quotient (LQ) technique in assessing the state of the regional economy.
Evaluate and justify the LQ values for each economic sector between District i
and State j, as shown in Table 1 below:
Economic Sector
Services
Manufacturing
Total Employment
National Employment
in
Industry I in Year T
Total National
Employment
in Year T
Table 1: Location Quotient for District i and State j
Employment Number (000¹) LQ 2030 Categorization LQ 2020
District i
State j
2030
2020 2030
2020 2030
39
44
97
115
62
115
140
106
212 255
Location
Quotient
45
84
=
Regional Employment
in
Industry I in Year T
Total Regional
Employment
in Year T
?
?
1
?
?
?
?
Categoriza
2020
?
?

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