For all these kind of questions we can answer using this concept ( hope all of you might have studied during your school days):
Probability of 'r' success out of 'n' trials = = nCr (P)^r (Q)^n-r
P - probability of success
Q - probability of failure
According to this question :
We need to find probability of head >= 2 out of 5 trials.
P - probability of success = 1/2(probability of getting head out of a toss)
Q - probability of failure= 1/2(probability of getting tail out of a toss)
In mathematical form:
P(H>=2) = 1-P(H<2) = 1- (P( H=0) + P( H=1)).
P(H =0) = 5C0 (1/2)^0 (1/2)^5 = (1/2)^5---------- eqn 1
P(H =1) = 5C1(1/2)^1 (1/2)^4 = (5/2)^5---------- eqn 2
Finally,
1-P(H<2) = 1- (P( H=0) + P( H=1)) = 1 - ((1/2)^5)+(5/2)^5) = 1- (6 / 2^5) = 26/32= 13/16.
Final note, though this method looks lengthy, it will be applicable to all atleast,atmost and exactly equal to 'n' of questions in probability.
In GMAT, more than solving fast we have to keep our mind unstressed and fresh. So that we can be active for such a long exam.
Hope it helps [WINKING FACE]