Yes, you can display the speed in real time.
speedPerSecond= (correctlyTypedCharacters) / (time-gameStartTime)
speedPerMinute=speedPerSecond*60
If you want round this number to two decimal places:
speedPerMinute = round(speedPerMinute * 100) / 100
I believe PPM refers to "Pages per minute" and it's used to measure performance of printers and photocopiers:)