I just had a discussion with a colleague regarding reporting of results from rank-order correlation using Spearman’s method, which yields ρ, or rho. Rho can be estimated from a bivariate association between two independent values measured in a sample. The sample is intended to represent the population it was sampled from - should or should not then the sample estimate be reported with a hat (ρ̂ )?
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What does it mean if p-hat equals 0.6 in a political poll?
If p-hat equals 0.6 in a political poll, 60% of voters from the sample support a particular event or a candidate. P-hat is the ratio of the number of occurrences of a particular event to the sample size and is often reported as a percentage in polls.
How do I find p-hat?
To find p-hat (i.e., sample proportion), you need to follow the next steps:
- Take the number of occurrences of an event or the number of successful outcomes.
- Divide it by the sample size.
- That's all! You have calculated p-hat.
What is the meaning of p-hat?
P-hat coveys the sample proportion, the ratio of certain events or characteristics occurring in a sample to the sample size. It can equal or differ from population proportion, which conveys a proportion of a particular feature associated with a population.