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

question 93

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 expected number of times she will be audited is_____ .

---

Definitions:

Consignment Arrangement

An agreement where goods are placed in the hands of another party to sell, but the ownership remains with the supplier until the goods are sold.

Consignor Ownership

Describes a situation where goods are given to another party (consignee) to sell, but the original party (consignor) retains ownership until the goods are sold.

Consignee

The party or entity that receives goods for sale, storage, or transfer but does not take ownership of those goods until they are sold.

LIFO Inventory Method

"Last-In, First-Out" is an accounting method for valuing inventory where the most recently produced items are recorded as sold first.