Proportion is the fraction of the total that possesses a certain attribute. It is calculated by dividing the number of elements with the attribute by the total number of elements.
5 Must Know Facts For Your Next Test
A proportion is expressed as a decimal or a percentage.
The sample proportion is denoted by $\hat{p}$ and is used to estimate the population proportion, denoted by $p$.
Proportions are used in constructing confidence intervals for population parameters.
In hypothesis testing, proportions play a key role, especially in tests about population means and differences between populations.
The central limit theorem applies to sample proportions, enabling normal approximation when sample size is large enough.