This is to track hit rate on sales of items and for the life of me I can't visualise how to do it!
I have a value of 312 which represents a hit rate of 0.97% of transactions.
I need to work out what the 100% number of transactions is.
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I am not sure that I fully understand your question but it seems to me that cross-multiplication could help you solve your problem. In particular you can look at the Rule of Three which comes with an example at the bottom of the previous link. – M. P. Oct 16 '17 at 09:37
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I must have phrased this badly, apologies. I know that 312 is 0.97% of transactions in that day. I need to work out what the total number of transactions in that day was. – skillawn Oct 16 '17 at 09:45
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As I mentioned in a comment we can use the Rule of Three. Let $n$ be the total number of transactions in the day then we have: $$ \frac{312}{n} = \frac{0.97}{100} $$ and using the rule of three we obtain: $$ n = \frac{312 \times 100}{0.97}\text{.} $$
A different, and maybe simpler, way to get the result stated above is to notice that: \begin{align} &&312 ={}& n\times 0.97\% \\ &\Leftrightarrow& 312 ={}& n\times \frac{0.97}{100} \end{align}
M. P.
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