Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: R

RUSTING

The result of electro chemical corrosion to iron and steel. It requires water and oxygen and is a form of oxidation.

REGRESSION ANALYSIS (RA)

Statistical approach to forecasting conversion in a dependent variable based on change in one or more independent variables. Also known also as curve fitting or line fitting.

RATE OF NATURAL INCREASE/DECREASE

This rate is calculated by using the birth rate minus the death rate. It is a rate that is equivalent to the population increase or decrease without migration being factored in.

RATIONALE

A discussion of the reasons behind how a decision was made. Rationales document why the choice was made, how it was developed, what assumptions were used and why the conclusion is realistic.

READERSHIP

The total number of subscribers and other readers of any publication.

REASSURED

This term refers to a company that obtains reinsurance coverage

RECENSION

This term refers to the revision of already published work due to the discovery of new information. See also: Redaction

RECOMMENDED MAXIMUM CONTAINMENT LEVEL

Non-enforceable principle that indicates the greatest level of a contaminant in drinking water at which no known or anticipated adverse health effects would occur in humans and pets.

RECOVERED MATERIAL

This term refers to the byproducts, parts or components of a waste stream that has been captured and separated for reuse.

RECYCLING

A strategy to minimize waste in which any reusable materials are recovered from a postconsumer waste stream, and put to the original or different use.

REDUCTION IN FORCE (RIF)

This term refers to the process that is used to terminate employment positions that are caused by funding that was lost, changes of requirements, or the reorganization of business operations or department.

REFERENCE GROUP

People whose opinions, values, attitudes, preferences, behaviors and beliefs are used by a person as the basis for their judgment. One does not have to be a member of a reference group

REFRESHER TRAINING

A short-term course that is aimed at the reinforcement and recall of previously acquired skills and knowledge.

REGRESSIVE SUPPLY CURVE

A curve on a graph that features and upwards slope to the left that shows the unique situation of a product supplied decreasing with an increase in price.

RELATIVE MARKET SHARE

Relative market share is comparing market share of a company with that of its next biggest competitor. Having a relative Market share of >1 means you are the market leader that outperforms

RENT CONTROL

Rent control refers to laws or ordinances that set price controls on the renting of residential housing. It functions as a price ceiling.

REPORTING FORM

A form used by the insured to send updates on stock value, home improvements and furniture to the insurer.

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