6 According to LIMRA 77 of husbandwife families with kids un

6. 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?

Solution

58.1958% that 5 or more families have insurance.

b(x; n, P) = _nC_x * P^x * (1 - P)^{n - x}