It is definitely not dead, dying maybe, but not dead. It needs more mulch. It needs excellent drainage. The acidity looks ok since the leaves are green. The most frequent cause of your problem is that the roots are strangling each other. Proper planting is very important. The potted plants we buy today are tricky to plant properly. You need to cut the circling roots that form between the soil and the pot. As the plant grows these roots strangle each other. You can still dig it up and plant it properly after cutting these roots. The directions are listed below.

Here is a link that might be useful: How To Plant (Rarefind Nursery)

Thanks for this information. I will fix my Rhododendron this weekend. Here is another close up picture of the leaves. They have what I would call insect chew marks all over.

This plant was actually just transplanted in the fall and I mulched it with leaves just for the winter in which I removed all them just last night because I havent had the time for new mulch to be delivered yet.

Is their anything else that you can think of so that I can save this Rhododendron?

Thanks
Amy

Those notches at the leaf edges are due to root weevils.

Is there anything that I can do to get rid of the root weevils?

Root weevils live in the ground and come up at night to dine on your plants. So spraying a contact insecticide at night may help. Or a systemic insecticide such as Orthene would work. Most people ignore them. They can cause severe damage to the roots, but seldom do. One "green" solution is to apply Tanglefoot to the stems. The weevils have to climb the stem every night to dine, and Tanglefoot is sticky stuff that they get tangled up in. If you use Tanglefoot apply it in a 2-3 inch band completely circling the main trunk near the ground and remove any leaves that touch the ground.

Here is a link that might be useful: Rhododendron Leaves Chewed On Margins