Mr. K was told that 5/8 of the students in his class own a gun. He then randomly selected 10 students to check if they owned a gun. The probability that none of the 10 students owned a gun is calculated to be approximately 5.5x10^-5 using the binomial distribution formula. The probability that 5 or more of the 10 students owned a gun, meaning the students cannot do their homework, is approximately 87.25% as calculated using the binomial CDF formula.