Final answer:
For planning a new sports stadium location to minimize customers' travel distance, models such as the Huff Model, Hotelling Model, nearest neighbor analysis, Weber's Location Model, and broader site location analysis with GIS are most suitable.
Step-by-step explanation:
In the context of planning a new sports stadium to minimize total distance traveled by customers, several analyses and techniques would be applicable. Huff Model is useful for predicting where customers are likely to shop based on the store's size, goods, and competition. The Hotelling Model helps understand patterns of retail location based on similar product selling, with firms ideally located to minimize travel distance for customers. For a more statistically oriented approach, nearest neighbor analysis compares the clustering of actual points to random distributions, which can infer optimal locations in certain contexts. Weber's Location Model is essential in considering transportation costs for site location, although its focus is more on manufacturing than retail or stadiums. Lastly, site location analysis employs various geographical tools like GIS to analyze multiple factors, including economic competition and demographic structures.