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An Application of Bootstrapping for Determining a Decision Rule for Site Location

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  • Biemer, Paul P
  • Kimes, Sheryl E

Abstract

This article provides a general methodology for determining and evaluating a decision rule for hotel site location. Given (1) an indicator of hotel success, (2) an ideal decision rule based on this indicator if it were known without error, and (3) a model for predicting the value of the success indicator at a proposed site, we propose a procedure for finding the optimal model-based decision rule for any specified optimality criterion and for evaluating the worth of the rule. The methodology is based on the statistical technique called bootstrapping. This method reduces the bias of conventional methods of estimation that have been applied in the context of site-location modeling. The methodology is illustrated using data from a large hotel chain in the United States and evaluated using an independent evaluation sample.

Suggested Citation

  • Biemer, Paul P & Kimes, Sheryl E, 1991. "An Application of Bootstrapping for Determining a Decision Rule for Site Location," Journal of Business & Economic Statistics, American Statistical Association, vol. 9(2), pages 189-196, April.
  • Handle: RePEc:bes:jnlbes:v:9:y:1991:i:2:p:189-96
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    Cited by:

    1. Debjit Roy & Eirini Spiliotopoulou & Jelle de Vries, 2022. "Restaurant analytics: Emerging practice and research opportunities," Production and Operations Management, Production and Operations Management Society, vol. 31(10), pages 3687-3709, October.

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