Copy/Paste from BF forums, just in case they get lost, and perhaps get some new discussion going.
Anyways, we know from the manual that the original Terran population started out at 32,000 spread across three planets. We also know from the same source that two hundred years separates the time between colonization and the events of Starcraft. What we don't know is what the final population number was at that time, or the rate of growth of the population, but we can guess.
For this I'm assuming a range of numbers, between 1% to 5% growth rate. The first represents the kind common to developed nations, while the last is found more in developing nations. These are not meant to be constants, but simply averages, therefore the final tally will also just be an average.
Now right off the bat we can exclude 1 or 2% growth, as either options lead to a population of just 230,000+ and 1.6 million and could not account for Korhal's 4 (or 35) million inhabitants. At 3% we get close to where we need to be, with almost 12 million Terrans. However, this also would not fit with recent retcons that Korhal had 35 million, and if we stick to the manual it would mean the Confederates had wiped out 1/3 of all Terrans in the Koprulu Sector. Stupid and incompetent they may be, but not IMO genocidal.
It's only with the higher growth rates that we can get anywhere close to a realistic estimate. At 4% we get over 81 million Terrans, which would work better for the 4 million figure but again with recent retcons we are faced with the idea that the Confederates were genocidal when they wiped out 35 million, or 40%, of their entire population.
The only figure that becomes workable is when we start getting towards 5%, which at the extreme end means a population of over 550 million, but generally we can expect a population in the hundreds of millions. The death of Korhal's population remains an extreme tragedy without becoming a debilitating loss to the continued survival of the species.
Now obviously as noted such a growth rate is usually only found in certain extreme parts of the world, aka shitty third-world countries, but with advances in science nifty things like people living longer can increase that rate. Indeed it was stated for this very reason why Earth had grown to 23 billion people in the BW manual.