Thanks for help ! 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 measure of the concentration of a particular industry, cluster,…

Answered: Using an appropriate example, explain…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Using an appropriate example, explain the purpose and importance of using the Location Quotient (LQ) technique in assessing the state of the regional economy.