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

Category: R

RISK SELECTION

The class that a risk is determined to be in such as sub-standard, standard or preferred.

ROAD BLOCK

A method used in advertising where the same ad is broadcast at the same time on all available stations or channels.

ROLLING

A process in shaping metal ingots where it is passed between two rollers to get a set shape and thickness.

ROOT MEAN SQUARE (RMS)

A mathematical value calculated by taking the square root of the mean of square roots in a random set of varying quantities observed during a certain cycle. A cycle like an alternating

ROUTINE

1. Any activity performed at regular intervals.2. The repitition of a procedure that does not vary.

RUN RATE

The projected profit of a company is studied in order to make next years investment decisions.

REGRESSION TOWARDS THE MEAN

The statistical propensity of a data series to gravitate towards the center of a distribution, provided it starts on the either end of the distribution and is free to fluctuate.

RATE AND TERM REFINANCE

To renegotiate the rate or term of a mortgage without changing the amount of said mortgage. This is a common way for borrowers to lock in a lower interest rate.

RATE STRUCTURE

The rate structure is a set of causes that a utility firm uses to compute the consumers charges. Water bills and telephone bills can be straightforward while electric bills are complex.

RATIONING FUNCTION OF PRICE

Rationing function of price features raising the price higher so that less of the consumable will be purchased and used by the consumers and more will be conserved or rationed.

READING GRADE LEVEL (RGL)

Number assigned to the level of how complex reading material is. It equals a level of schooling. For instance, level of seven means the reading material is suited for a student in

REALISM

1. Practical orientation that relies on the facts and takes into consideration things as they are, not on what they might be. 2. Philosophical concept that theoretical entities such as numbers and

RECALL

1. Remembrance of what has been heard, seen. Also, see: recall test. 2. Removal of a contaminated or defective good by its manufacturer , either voluntarily or when forced by a watchdog

RECESSIONARY GAP

Essential piece of macroeconomics that accounts for the gap between the short run equilibrium level and full employment real production. A recessionary gap is associated with a business cycle contraction.

RECONFIRMATION

A requirement where a passenger must confirm at least 72 hours before the flight that they will be on the plane. Otherwise, the airline has the right to assign the seat.

RECRUITMENT

The process of identifying and hiring the most qualified candidate either from within or outside of an company for a job vacancy in a most timely and cost effective way.

REDACTED DOCUMENT

A redacted document is a document that has been modified, edited or revised and any confidential or sensitive information has been removed from it.

REFERENT POWER

This term refers to the influence over others that is acquired from being respected and well-liked by them.

REFRIGERATION CAPACITY

Measure of the cooling power of a refrigerator expressed in BTUs per hour, or in tons where one ton refers to 12,000 BTUs or the energy required to melt 2000 pounds of

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.