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r stands for "range". There is an r value when full too if you push the button until it comes up. Most vehicles' fuel gauges register empty a bit early as a margin of safety.
Once you learn it on your bike, it is a very useful tool. Much better than the fuel gauge. I have about 45-50 miles left when mine comes on, some have as little as 35 miles. It does not really matter, once it comes on and you refill your bike, you will know your bike. My average may not match yours. I get two up touring, about 43 mpg. So, mine comes on I have slightly more than 1 gallon left. I have gone 50 miles and added 4.7 gallon.
It is not accurate per say, but it is good enough to serve you well for riding.
Yes, miles remaining to a dry tank. However, it is a calculated value based on the recent average fuel consumption so your actual distance to a dry tank will vary. I am entertained that miles remaining will increase when going down a long hill even though no fuel has been added to the tank. It will also decrease way out of proportion to distance traveled while climbing a hill due to the increased fuel consumption. As a life-long professional pilot, running out of fuel is never an option and that carries over to my ground vehicle operation. Unless you are in unfamiliar territory and don't know where the next fuel opportunity is, I don't know why you would allow the fuel to get that low. These machines are too big and too heavy to push that last 100 feet to the pump. MAKE the time to fill up long before fuel gets that low and stop stressing over this stuff.
My 2011 RKC actually has 2 fuel gauges and will display miles remaining, but it’s all served by the same sending unit in the tank. I reset the trip odometer when filling and plan for 200 miles per tank.
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