Can i turn my android into a hot spot?

Yes, the functionality is built in. However you have to have a plan from your provider that allows you to do that.

Yep you can just go to Settings>Wireless & networks>Portable WLan hotspot and follow the instructions and you can enable your portable hotspot but if you don't have a large amount of data usage I suggest you dont use this option as your service provider will charge you for the extra data that you have used up.

Jes, you can. BUT! I don't suggest you do it because video game systems use quite a bit of data, and it might murder your phone, not to mention, it would have a slow game connection anyway (Because remember, all the data it needs is going through your phone)

Just go into settings and look for Wifi or Hotspots and Tethering.

they do no longer run from a cellular telephone or and not applying a subscribed broadband line. You join DSL telephone line connection, or a cable connection. The instantaneous router connects to that, and then all your machines connect with the router.