Depends on who they are.. if they are strangers I do, but if I know them, or know them well enough to know their name, then I just call them by their name, or just go "yeah, or alright" in a polite tone.
Yes. That's the southern hospitality that was instilled into me. It also makes me feel the need to cook a bunch of food anytime someone comes to my house.
This. MY god. I can invite three people over, but have enough to feed twenty.
I use it when dealing with some of my family members that are my elders, since I live in the south it's just a matter of respect and I use it on my professors who are older as well, not the younger ones.