average

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average,

number used to represent or characterize a group of numbers. The most common type of average is the arithmetic meanmean,
in statistics, a type of average. The arithmetic mean of a group of numbers is found by dividing their sum by the number of members in the group; e.g., the sum of the seven numbers 4, 5, 6, 9, 13, 14, and 19 is 70 so their mean is 70 divided by 7, or 10.
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. See medianmedian.
1 In statistics, a type of average. In a group of numbers as many numbers of the group are larger than the median as are smaller. In the group 4, 5, 6, 9, 13, 14, 19, the median is 9, three numbers being larger and three smaller.
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; modemode,
in statistics, an infrequently used type of average. In a group of numbers the mode is the number occurring most frequently. In the group 1, 4, 5, 5, 6, 6, 6, 6, 9, 9, the mode is 6 because it occurs four times and the others only once or twice.
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.

average

see MEASURES OF CENTRAL TENDENCY.

Average

 

in maritime law. (1) General average—property damage caused intentionally to a ship or its cargo to avoid danger to both or to forestall losses (for instance, the jettison of cargo or of ship provisions to lighten the ship in trying to get off a sandbank). The USSR Trade Navigation Code defines general average as losses suffered as a consequence of intentional and reasonable emergency expenditures and sacrifices to save a ship or its cargo from danger. The losses incurred in the case of general average are distributed proportionally according to the value of the ship, freight, and heavy loads.

(2) Particular average—unintentional damage caused to a ship or its cargo or in connection with their movement; the losses in the case of particular average are borne by those who suffered them or by those who are responsible for having caused them.

In Soviet legislation questions relating to general and particular average are regulated by the USSR Trade Navigation Code. In international trade, relations arising out of general average are regulated by the York-Antwerp Rules (the 1950 edition). These rules are applied only according to an agreement between the parties included in their contract of affreightment.

average

[′av·rij]
(mathematics)

average

1. the result obtained by adding the numbers or quantities in a set and dividing the total by the number of members in the set
2. (of a continuously variable ratio, such as speed) the quotient of the differences between the initial and final values of the two quantities that make up the ratio
3. Maritime law
a. a loss incurred or damage suffered by a ship or its cargo at sea
b. the equitable apportionment of such loss among the interested parties
References in periodicals archive ?
CME Group energy volume averaged 1.8 million contracts per day, up 13 percent compared with September 2009.
Kerosene-type jet fuel product supplied in August 2004 averaged 1.8 million barrels per day, 7 percent higher than the previous month's rate and 6 percent more than the August 2003 rate.
Large Ballet companies reporting to Dance/USA averaged $312,000 of NEA support per company in 1992, the peak year of the decade for that group of companies.
Executive detached bungalows averaged $195,000, up 8.9 per cent.
Fifteen-year FRM this week averaged 2.88 % with an average 0.6 point, up from last week when it averaged 2.84 %.A year ago at this time, the 15-year FRM averaged 3.36 %.
In the third quarter, asking rents averaged $29.68.
Total petroleum imports (1) averaged 13.0 million barrels per day in June 2004, slightly lower than both the previous month's rate and the June 2003 rate.
Prewar apartments on the Westside averaged $880,000, an increase of 35%.
The price of unleaded premium gasoline averaged $2.23 in June 2004, 31 percent higher than the price in June 2003.
Sales East of Park Avenue averaged $829.50 per SF in 2001, down from $939.69 vs.
The price of unleaded premium gasoline averaged $2.19 in May 2004, 26 percent higher than the price in May 2003.
Sales prices for cooperatives averaged $576,596 and condominiums averaged $952,761.