Fold Equity in Cash Games

Hi,

Could anybody point me in the direction of a clear explanation of Fold Equity and its application in cash games.

My understanding so far is that this is the % of times the villain will fold to my raise x the pot I will win when he folds.

So I use this in calculating the best EV action by applying it to his likely range????
e.g. I estimate from my reads on him that on seeing a flop he will call my re-raise 100% with a set, 75% with 2pair, 50% with TPTK etc???

Or am I misunterstanding the concept?

sounds about right.

technically equity is a dollar amount but using $$ or %% will give you the same answer in terms of what line to take, and %%s are easier to work with since you can memorise them for common situations.