According to LIMRA, 77% of husband-wife families with kids under 18 years old have life insurance. A random sample of six husband-wife families was selected. What is the probability that five or more families have life insurance?

0.5819 = 58.19% probability that five or more families have life insurance

Step-by-step explanation:

For each family, there are only two possible outcomes. Either they have insurance, or they do not. The probability of a family having insurance is independent of other families. So we use the binomial probability distribution to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

In which is the number of different combinations of x objects from a set of n elements, given by the following formula.

And p is the probability of X happening.

77% of husband-wife families with kids under 18 years old have life insurance.

This means that

A random sample of six husband-wife families was selected.

This means that

What is the probability that five or more families have life insurance?

This is

In which

0.5819 = 58.19% probability that five or more families have life insurance

a

step-by-step explanation:

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