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 exactly four families have life insurance?

Question

Quizplus · Accepted Answer

The probability can be calculated using the binomial probability formula: P(X=k) = C(n, k) * p^k * (1-p)^(n-k), where n=6, k=4, and p=0.77.

According to LIMRA, 77% of Husband-Wife Families with Kids Under