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Answer:
The probability that exactly two of the four live in their own household and are income-qualified is = .0975
Step-by-step explanation:
Given -
Approximately 85% of persons age 70 to 84 live in their own household and are income-qualified for home purchases.
Probability of sucess ( p ) = 85% =.85
Probability of failure ( q ) = 1 - .85 =.15
n = 4
From combination of n events taking r sucess we use binomial distribution
where , r = 2
the probability that exactly two of the four live in their own household and are income-qualified is =
=
=
= .0975