Question: The Insider View of Las Vegas Web site (www. insidervlv.com) furnishes information and facts concerning Las Vegas. A set of data published by them provides the amount of gaming revenue for various portions of Clark County, Nevada. The file titled Vegas provides the gaming revenue for the year 2005.
a. Compute the linear regression equation to predict the gaming revenue for Clark County based on the gaming revenue of the Las Vegas Strip.
b. Conduct a hypothesis test to determine if the gaming revenue from the Las Vegas Strip can be used to predict the gaming revenue for all of Clark County.
c. Estimate the increased gaming revenue that would accrue to all of Clark County if the gaming revenue on the Las Vegas Strip were to increase by a million dollars.