How Ratios and Proportions Work
Ratios compare quantities and proportions state that two ratios are equivalent.
Ratios
A ratio such as 2:3 compares two quantities.
Proportions
A proportion such as 2:3 = 4:6 can be solved by cross multiplication.
Applications
Ratios appear in pricing, recipes, design, finance and performance measurement.
Practical takeaway
Use the metric that matches the business question you are trying to answer. When several metrics describe different stages of the same workflow, compare them together rather than optimizing one in isolation.
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