Suppose a Spatial Interaction Model is to be developed to help in locating a new retail store that sells a family of specialty foods. The market region to be served already includes 5 other similar retail stores owned by competitors, denoted Store 1 - Store 5. To model the sales for this family of specialty foods, the market region has been divided into 9 geographic areas as shown in the first column of the table below. This table also provides the estimated annual sales of these products from the corresponding region. Region NW NC NE CW CE SW SC SE Annual Sales (in thousands of dollars) 270 250 360 190 140 300 380 310 300 Three possible locations have been identified for locating the new retail store, and these are denoted Loc 1, Loc 2, and Loc 3. The travel times in minutes) between the 9 regions and the 5 existing stores and three possible locations for the new store are shown below. Travel Times Region Store 1 NW 11.40 NC 19.24 NE 29.83 CW 48.27 CC 39.56 CE 61.07 SW 67.90 SC 79.31 101.02 Store 2 42.44 35.51 29.68 44.28 5.10 30.02 42.44 45.40 67.94 Store 3 97.65 84.12 71.81 85.88 50.61 30.59 56.89 26.00 14.87 Store 4 96.26 82.86 70.61 84.53 49.20 29.43 55.73 25.02 16.16 Store 5 60.21 69.46 67.27 25.00 36.06 55.90 11.18 40.31 79.06 Loc 1 81.63 71.02 60.03 68.88 34.48 21.54 42.00 15.62 31.76 Loc 2 43.83 40.26 35.23 40.01 5.10 31.95 36.89 42.20 67.94 Loc 3 32.02 20.62 18.03 49.24 20.00 39.05 55.90 60.21 79.06 SE The 5 existing stores are similar and are all deemed to have an attractiveness measure of 2. The store to be established at Loc 1. Loc 2 or Loc 3 will not be as large as the existing stores, nor will it have as good parking availability, so the new store is estimated to be about 80% as attractive; hence the new store will have an attractiveness measure of 1.6 (80% of 2.0). Build spatial interactions models to estimate the revenue that would be captured by the new store at each of the three possible locations. Which location would be best and how large is the estimated annual revenue for the store at that location? Suppose a Spatial Interaction Model is to be developed to help in locating a new retail store that sells a family of specialty foods. The market region to be served already includes 5 other similar retail stores owned by competitors, denoted Store 1 - Store 5. To model the sales for this family of specialty foods, the market region has been divided into 9 geographic areas as shown in the first column of the table below. This table also provides the estimated annual sales of these products from the corresponding region. Region NW NC NE CW CE SW SC SE Annual Sales (in thousands of dollars) 270 250 360 190 140 300 380 310 300 Three possible locations have been identified for locating the new retail store, and these are denoted Loc 1, Loc 2, and Loc 3. The travel times in minutes) between the 9 regions and the 5 existing stores and three possible locations for the new store are shown below. Travel Times Region Store 1 NW 11.40 NC 19.24 NE 29.83 CW 48.27 CC 39.56 CE 61.07 SW 67.90 SC 79.31 101.02 Store 2 42.44 35.51 29.68 44.28 5.10 30.02 42.44 45.40 67.94 Store 3 97.65 84.12 71.81 85.88 50.61 30.59 56.89 26.00 14.87 Store 4 96.26 82.86 70.61 84.53 49.20 29.43 55.73 25.02 16.16 Store 5 60.21 69.46 67.27 25.00 36.06 55.90 11.18 40.31 79.06 Loc 1 81.63 71.02 60.03 68.88 34.48 21.54 42.00 15.62 31.76 Loc 2 43.83 40.26 35.23 40.01 5.10 31.95 36.89 42.20 67.94 Loc 3 32.02 20.62 18.03 49.24 20.00 39.05 55.90 60.21 79.06 SE The 5 existing stores are similar and are all deemed to have an attractiveness measure of 2. The store to be established at Loc 1. Loc 2 or Loc 3 will not be as large as the existing stores, nor will it have as good parking availability, so the new store is estimated to be about 80% as attractive; hence the new store will have an attractiveness measure of 1.6 (80% of 2.0). Build spatial interactions models to estimate the revenue that would be captured by the new store at each of the three possible locations. Which location would be best and how large is the estimated annual revenue for the store at that location