The formula to calculate the Cancellation Rate is:
\[ \text{CANC} = \left(\frac{\text{OC}}{\text{T}}\right) \times 100 \]
Where:
Cancellation Rate is the percentage of orders that are canceled out of the total number of transactions. It is calculated by dividing the number of orders canceled by the total number of transactions, then multiplying by 100 to express it as a percentage.
Let's assume the following values:
Using the formula to calculate the Cancellation Rate (CANC):
\[ \text{CANC} = \left(\frac{15}{200}\right) \times 100 = 7.50\% \]
The Cancellation Rate is 7.50%.