You want to host a giveaway on Facebook to promote your new side hustle. You are giving
Question:
You want to host a giveaway on Facebook to promote your new side hustle. You are giving away a $50 gift card for your business. Anyone who likes/follows your Facebook page is entered into the drawing. According to a recent study, you predict your side hustle will earn, on average, $.50 per like/follow. Your giveaway deadline passes, and you have 189 new followers on your Facebook page since the giveaway was first promoted. Using expected value, answer the following:
Was this a successful giveaway (in terms of expected value)?
How many followers would have made this giveaway a “fair game”?
What would the expected value have been if you only gained 94 new followers?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill