In a Game Called Taxation and Evasion,a Player Rolls a Pair

question 204

Short Answer

In a game called Taxation and Evasion,a player rolls a pair of dice.If on any turn the sum is 7,11,or 12,the player gets audited.Otherwise,she avoids taxes.Suppose a player takes 5 turns at rolling the dice.The probability that she gets audited no more than 2 times is _____.

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Definitions:

Opportunity Cost

The sacrifice of possible benefits from other options when selecting a specific one.

Income Tax

A tax levied by governments on individuals' or entities' income and earnings.

Distance Learning

A method of education that allows students to study and learn remotely without being physically present in a traditional classroom setting.

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the cost per unit of output.