Use This Information to Answer the Following Questions -Refer to the Table Above

question 12

Essay

Use this information to answer the following questions.
The following data were collected on annual revenues (millions)and the number of slot machines in a Las Vegas casino from 1995 to 2005.
$$\begin{array} { l c c } \text { Year } & \text { Annual Revenues } & \text { Number of SlotMachines } \\1995 & 4 & 35 \\1996 & 6 & 40 \\1997 & 7 & 45 \\1998 & 8 & 50 \\1999 & 6.8 & 55 \\2000 & 8.8 & 60 \\2001 & 9 & 65 \\2002 & 10 & 70 \\2003 & 13 & 75 \\2004 & 12 & 75 \\2005 & 13 & 75\end{array}$$
-Refer to the table above.Suppose that the casino manager believes that warmer weather attracts more gamblers.The data on average yearly temperatures from 1995 to 2005 are shown as follows.
$$\begin{array} { c c } \text { Year } & \text { Average Temperature } ( \mathbf { F } ) \\1995 & 60 \\1996 & 65 \\1997 & 68 \\1998 & 69 \\1999 & 63 \\2000 & 70 \\2001 & 72 \\2002 & 71 \\2003 & 74 \\2004 & 73 \\2005 & 72\end{array}$$
a.Develop a regression model to predict annual revenue based on the number of slot machines and average temperature.
b.What percent of the total variation in revenue is explained by the regression model?
c.Predict annual revenue if the casino has 75 slot machines and the average temperature is 74 degrees.

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Definitions:

Epinephrine

A hormone and neurotransmitter also known as adrenaline; plays a key role in the fight-or-flight response by increasing heart rate and blood flow.

Blood Pressure

The force exerted by circulating blood on the walls of the body's arteries.

Heart Rate

The count of heart pulses in a given time frame, typically expressed in beats per minute (bpm).

Glucocorticoid Secretion

The production and release of glucocorticoids, a type of steroid hormone involved in the regulation of glucose metabolism, immune response, and stress response.