How is world population calculated? And how accurate is the number? Is it possible that the number can be entirely wrong?
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Well we have a formula/regression to calculate world population and every country has a set of statistics (the data for which is collected via national census) regarding population, mortality rate, birth rate, child mortality rate etc. These statistics are compiled and plugged into said formula and we get a world population number including the number of deaths and births per year. Although this number is fairly accurate in representing the statistical significance, when it comes to running a regression, there is room for error which is captured via an error term, this allows for a certain degree of variance shift. It’s a fairly accurate estimate. But, there are probably more people who slip out of the census then are a part of it so, there are probably more people then we estimate there are, not less.
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