Compression Ratios

Can someone give me a very simple explanation of compression ratios (assuming all other settings remain the same).  I assume, for instance, that a 5:1 ratio results in more compression than a 2:1 ratio.  Correct?

Also, is there any such thing as a good standard working ratio setting?  In other words, one that gets used "most of the time."

 

Compression ratio is the input level to output level ratio. Therefore 2:1 means that for every 2dB of input level you get 1dB of output level change. If you type the values into Audition's Traditional view in the Dynamics Processing page and then go back to the Graphic view you will see the changes in the graph for different compression ratios.

Also, is there any such thing as a good standard working ratio setting?  In other words, one that gets used "most of the time."

The answer to that is an unqualified 'NO'. Ratios vary commonly from 1.5:1 up to about 20:1 - any more than that is pretty much limiting above the threshold, rather than compression.

ftp://ftp.dbxpro.com/pub/PDFs/WhitePapers/Compression%20101.pdf
This is a link to a .pdf produced by DBX that helps expand a bit on what the others in this thread have already stated.  They do give examples of situations and settings but remember they are only examples, not general starting points.  All material is different and should be approached as such.

Appreciate the help from all.