When to switch-off a campaign?
Here's the question: When should I switch off a test campaign?
Say I've had 100 clicks, at a cost of $ 0.35 each, that yielded one sale giving me $15 revenue - is the sample size big enough for me to say that I am unlikely to make money? I know, I've lost $20 so far...but it's only been 100 clicks (or 'trials').
Another way to ask this more accurately is: What is the probability that I will break-even or better, based on the results and size of this sample?
(I'm sure that someone out there remembers how to work binomial distributions...I'm sure there are plenty of 'rules-of-thumb', but I'm looking for the math)
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