The Prophet (peace be upon him) set the precedent for a goat or lamb or sheep to be sacrificed on behalf of a single person (his family included) but for seven persons to share in a cow or camel. Abu Dawud and others report the statement of Jabir: 'Seven persons (among us) would share a single cow or camel while making sacrifice."
Based on such precedents, the scholars have ruled the above as the standard to follow. Having said this, even as a single goat or sheep would suffice for a person and all of his family, likewise, one seventh portion of a cow or camel would suffice for an entire family.