The formula to calculate P-Hat (p^) is:
\[ p^ = \frac{X}{n} \]
Where:
P-Hat is the long form of the term p^. P^ is the probability that a given outcome will occur given a specified sample size. It represents the probability of the event within the chosen sample and is often used to represent the entire population if the sample was chosen correctly. P-Hat is commonly used in statistics and many other STEM fields.
Let's assume the following values:
Using the formula:
\[ p^ = \frac{45}{100} = 0.45 \]
The P-Hat (p^) is 0.45.
