The equation $$n = \frac{c}{v}$$ defines the refractive index (n) of a medium as the ratio of the speed of light in a vacuum (c) to the speed of light in that medium (v). This concept is crucial for understanding how light behaves as it travels between different media, influencing phenomena such as refraction and total internal reflection. The refractive index helps explain why light bends when it enters a different substance and plays a key role in applications like lenses and optical fibers.