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The phase velocity of a wave is the rate at which any one frequency component of the wave travels. On the other hand, the group velocity of a wave is the rate with which modulations of the wave's amplitudes travel through space.

Source: https://en.wikipedia.org/wiki/Phase_velocity. The above animation does not work in the mobile Quora app. To view the animation in the mobile app, visit the linked page.

In the above animation, the red dot moves at the phase velocity, following the crest of one particular frequency component of the wave. The green dots move at the rate of modulations in the wave. Note in this animation that the phase velocity is double the group velocity.

The phase velocity equals the wavelength divided by the period alternatively, phase velocity equals the angular frequency divided by the angular wave number

Consider a solution to the one-dimensional wave equation http://www.mathpages.com/home/kmath210/kmath210.htm for a pure sinusoidal traveling wave:

A pure sine wave does not transmit any information. In order to transmit information, some form of modulation must be added to the carrier tone, some change in amplitude or frequency. Consider the sum of two waves of slightly differing frequency and wave number :

The sinusoidal wave previously presented is now multiplied by a modulated amplitude

Source: http://www.mathpages.com/home/kmath210/kmath210.htm

The envelope of the amplitude wave moves with phase velocity The propagation of information or energy manifests itself in the movement of this envelope. Since each amplitude wave comprises a group of internal waves, its rate of propagation is termed the group velocity.

Given a refractive medium, the ratio between c, the speed of light, and the phase velocity is called the refractive index:

Rearranging,

and

If we assume n to be a function of k, and we take the derivative of with respect to k, we get, for the group velocity

From the above, we see that group velocity is equal to phase velocity if and only if i.e. when the refractive index is constant and there is no dispersion.