The red wire on the IAC valve should show Battery voltage
So key on engine off
Unplug IAC connector
Test battery voltage first, 12.2v to 12.8v, remember it
Test red wire voltage
Red wire to volt meter
other volt meter wire on battery negative
Should see exactly the same volts
If not matching volts then red wire is damaged, it comes from EEC/PCM relay
The Other wire on IAC Valve connector is "the ground" for IAC Valve but its a Pulsed Ground, thru the computer, not just grounded to battery negative
With key on engine off
Put volt meter on both wires, red positive other wire negative, should see 11v-12v, computer Open IAC Valve full for Start Up so full voltage
Ranger IAC Valve is a true Solenoid, meaning it has a wire wound around a metal tube, one end is red wire other end is the "other wire"
This is an electro-magnet, the higher the voltage passing thru the wound up wire the greater the magnetic force
So same setup as a Relay but relays are on/off not variable voltage, unless battery is dead, lol, i.e. "click, click, click,........"
Anyway, the valve inside is attached to a metal rod with a spring that holds it closed
As voltage is passed thru the coil of wire the metal tube becomes a magnet and pulls the rod into the tube, the higher the voltage the more it pulls the rod in against the spring pressure trying to hold it closed
Very simple setup really
And quite accurate, +/-4rpm is spec
The computer has feedback from crank sensor for RPM, so it adjusts IAC Valve voltage accordingly
Computer has "Target idle RPMs" in memory, 1,100rpm cold, 750rpm warm, and it varies by year and Emissions standards