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1.
a fraternity porch, usually on the second or third floor of the house.
"Let's go out to the fratio."
"Indubitably."
by Beamer February 22, 2005
 
2.
pronounced fray-shio

the ratio between frat daddys and GDIs in a social scene. a high fratio creates a fratmosphere.
"Lets get the hell out of this party! The fratio is insanely low"
by gangsta gabs August 08, 2008