Using and interpreting regression analysis

Use the data in the Excel file Missouri Casino Performance 2014 to understand the relationship between casino size and casino performance. Use AGR as the dependent variable. Estimate a multiple regression equation with AGR as the dependent variable and the number of slot machines and the number of table games as two independent variables. Estimate a second regression equation. Again, AGR will be the dependent variable but this time use the square footage of the casino as a single independent variable. Use the results of these two regression equations to answer the following questions. Paste or type answers on this document. Then print—I will not accept more than two pages—and attach the pages using either a staple or paper clip. Make sure your name is in the header. You can make the answer boxes larger or smaller as necessary. Questions 1—11 are worth 3 points each.
HINT: reading numbers in scientific notation. If you see results that look something like this “2.51E-05” that number is in scientific notation. The E-05 part tells you that it is a small number and that you need to move the decimal point 5 places to the left. So 2.51E-05 really means .0000251. Similarly, if you see something like 1.51E+05, the E+05 means it is a big number and you should move the decimal point 5 places to the right. So 1.51Ees the regression equation output tell you about the relationship between AGR and the number of tables and slot machines in a casino?+05 is really 151000.
1. Report the regression equation for modeling AGR as a function of the number of table games and the number of slot machines.

2. What is the value of R2?

3. Is the overall model statistically significant? And what specific piece of evidence allows you to say that?

4. How much does AGR change for a one machine change in the number of slot machines?

5. Briefly interpret your results. What does the regression equation output tell you about the relationship between AGR and the number of tables and slot machines in a casino?

6. Report the regression equation for modeling AGR as a function of the size of the casino in square feet.

7. What is the value of R2?

8. Is the overall model statistically significant? And what specific piece of evidence allows you to say that?

9. Briefly interpret your results. What does the regression equation output tell you about the relationship between AGR and the size of the casino in square feet?

10. How much adjusted gross receipts (AGR) would you predict if a casino was 50,000 square feet in size?

11. Which of the two equations, AGR as a function of table games and slot machines OR AGR as a function of the size of the casino in square feet, is a better predictor of AGR? And what evidence allows you to say that?

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