if used in a decimal it means that the number it is over is repeating
ex) 27.33333333333333
instead you could write 27.3 with a line over the 3
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A line over a whole number means that number repeats for an infinite number of times.
rise over run
The line is usually taken to mean that the decimals under the line repeat. And yes, such a number is rational, since it can be converted into a fraction (with whole numerator and denominator).
It means recurring, so rather than writing out an endless line of 3s, 3.333333333333 etc they would write the 3.333 with the last 3 having a line over it.
The line over a fraction number means division. For example 2/4. 4 divided by 2 is 2. Add to the the numerator and you get 4/4. 4/4 is equal to one whole.