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No, the for loop goes through the array and passes the values one by one - placed in the $i variable - to sed.
sed does the text transformation part only.

---------- Post updated at 11:29 PM...

These two suggestions work in a similar way:
sed "s/^$i.*/$i , $ratio/"
and
sed "s/^$i *,.*/$i , $ratio/"
There is a difference however:

The second form uses the comma as a kind of "anchor"...