Depends on a few things. What's the brand of paint? Is is Acrylic, enamel etc.? Is it gloss or flat?
I can give you an example based on the paint that I use most, which is Mr Color. I tend to thin the flat paints close to 50/50. The gloss paints get thinned a little more, probably 45/55 or 40/60. I always use Mr Color thinner to thin the paint and regular lacquer thinner to clean the airbrush.
I tend to just eyeball the ratios, though. I don't use anything to measure it exactly. I just shoot for what seems like 50/50 to start and then I'll add more thinner or paint if I don't like how its coming out of the airbrush. What I do is keep some Mr Color thinner in a plastic bottle with a pointy tip (that looks like a ketchup bottle in a diner) so I can just squirt in a few drops at a time. You can get these bottles in various sizes at Hobby Lobby or Jo Ann's. I have other bottles full of lacquer and enamel thinner, too. Be sure to label them if you do this.
I mix the paint and thinner right there in the cup that attaches to my airbrush and stir it with a toothpick or chopstick from a Chinese restaurant. I have a bunch of chopsticks from Pei Wei. These make great stir sticks. And the price is right.
Hope this helps a bit.