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?
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?
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter9: Real Numbers And Right Triangles
Section9.4: Real Numbers
Problem 53E
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- 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?
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