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According to LIMRA, 75% of husband-wife families with kids under 18 years old have life insurance....

According to LIMRA, 75% of husband-wife families with kids under 18 years old have life insurance. A random sample of seven husband-wife families was selected. What is the standard deviation of this distribution?

Math   Statistics-And-Probability   
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Answer #1

p = Probability of success = 0.75 ( We converted 75 % in to decimal )

n = random sample size =   7   ( A random sample of seven husband-wife families was selected)

Here we use formula of standard deviation from binomial distribution beause we have given the

Final answer :-

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