What is a Statistical Proportion and it's importance?
In Statistics, some particular numerical ratios which connects some important variables or parameters associated with the given data or distribution are called statistical proportions. Comparison of multiple data is the main advantage of these proportions. In statistical data analysis various proportions has a wide applications. For example, at the time of comparing two different data, comparing the performance of a company with last year performance, comparing the quality of one set of products to the next set of products, etc if we compare a fixed proportion of each group of data, we can take many useful conclusions.
How to Calculate Population Proportion?
Population Proportion calculator uses Population Proportion = Number of Successes/Population Size to calculate the Population Proportion, Population Proportion formula is defined as the proportion of a specific characteristic or outcome in the entire population being studied. Population Proportion is denoted by PPopulation symbol.
How to calculate Population Proportion using this online calculator? To use this online calculator for Population Proportion, enter Number of Successes (NSuccess) & Population Size (NPopulation) and hit the calculate button. Here is how the Population Proportion calculation can be explained with given input values -> 0.4 = 20/50.