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Rate (mathematics)

Ratio between two related quantities in different units

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Temporal rate is a common type of rate, in which the denominator is a time duration ("per unit of time"), such as in speed, heart rate, and flux. In fact, often rate is a synonym of rhythm or frequency, a count per second (i.e., hertz); e.g., radio frequencies or sample rates. In describing the units of a rate, the word "per" is used to separate the units of the two measurements used to calculate the rate; for example, a heart rate is expressed as "beats per minute".

Rates that have a non-time divisor or denominator include exchange rates, literacy rates, and electric field (in volts per meter).

A rate defined using two numbers of the same units will result in a dimensionless quantity, also known as ratio or simply as a rate (such as tax rates) or counts (such as literacy rate). Dimensionless rates can be expressed as a percentage (for example, the global literacy rate in 1998 was 80%), fraction, or multiple.

Properties and examples

Rates and ratios often vary with time, location, particular element (or subset) of a set of objects, etc. Thus they are often mathematical functions.

A rate (or ratio) may often be thought of as an output-input ratio, benefit-cost ratio, all considered in the broad sense. For example, miles per hour in transportation is the output (or benefit) in terms of miles of travel, which one gets from spending an hour (a cost in time) of traveling (at this velocity).

A set of sequential indices may be used to enumerate elements (or subsets) of a set of ratios under study. For example, in finance, one could define i by assigning consecutive integers to companies, to political subdivisions (such as states), to different investments, etc. The reason for using indices i is so a set of ratios (i = 0, N) can be used in an equation to calculate a function of the rates such as an average of a set of ratios. For example, the average velocity found from the set of vi's mentioned above. Finding averages may involve using weighted averages and possibly using the harmonic mean.

A ratio r = a/b has both a numerator a and a denominator b. The value of a and b may be a real number or integer. The inverse of a ratio r is 1/r = b/a. A rate may be equivalently expressed as an inverse of its value if the ratio of its units is also inverse. For example, 5 miles (mi) per kilowatt-hour (kWh) corresponds to 1/5 kWh/mi (or 200 Wh/mi).

Rates are relevant to many aspects of everyday life. For example: How fast are you driving? The speed of the car (often expressed in miles per hour) is a rate. What interest does your savings account pay you? The amount of interest paid per year is a rate.

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