The problem occurs like this; you use your trusty volt meter to measure the voltage at a point in a circuit. You see voltage so you think every thing is fine. Then you attach your electical device (like a light bulb) and it doesnt light. You figure the bulb is bad. You try another bulb and it doesnt work either. You test the bulb in another socket and it works. So what gives?
Basically you are doing an unloaded test, one that shows voltage but that is not actually pulling any current. This is a similar test to the open loop voltage test on the stator. You see voltage which makes it appear the stator is OK, but it is an inconclusive test, because when you try to pull current the voltage might drop if there is a near.
There are various ways to explain this all of which are equivalent. One way to think of it is if you are reading a voltage in the middle of a circuit, you may be reading the source voltage (i.e. the battery) through a resistance (for example a corroded connection). Since there is practically no current flowing into the meter (volt meters are high impedance), you see the voltage.
However, when you stick a device in the circuit that tries to pull current, if the resistance of the bad connector has a resistance equal to the resistance of the device you are putting in (12 ohms for a 12Watt bulb), then the voltage to the bulb is 1/2; This what is know as a voltage divider.
See the attached picture which using a coil to demonstrate the situation. If you have had the solenoid grounding dilemma, then this is the exact same situations.
Unless current is flowing there is no voltage drop (i.e. V=IR) that is what the equation means.
This is also the reason for doing the Stator tests at full load which is 5000 RPM. Otherwise you are not testing the resistance when there is maximum current flow. Exact same issue.

EDIT: In this analogy the coil is the corroded connector (something with finite resistance), and the switch is to indicate the open light socket (switch open) with and the bulb (closed switch).
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