Which of the Following Statements Best Describes Contests and Sweepstakes

question 125

Multiple Choice

Which of the following statements best describes contests and sweepstakes?

• A)Contests depend on luck, and participation is free.
• B)Contests are generally effective tools for creating long-term relationships with customers.
• C)Sweepstakes are promotions that require participants to exhibit some skill.
• D)Sweepstakes usually draw about 10 times more participants than contests.

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Definitions:

Biases

Systematic patterns of deviation from norm or rationality in judgment, where particular feelings or opinions influence decision-making.

Uncertainty

Describes a situation where the outcomes or consequences of actions are unknown and unpredictable.

Probability

Likelihood that a given outcome will occur.

Rules of Thumb

Simple, general principles or guidelines that are typically derived from practice rather than theory.