average

  

Definitions (5)

1.General: Number or quantity that is in-between (intermediate to) several quantities and numbers. See also mean.
2.General insurance: The term 'subject to average' means that if the sum insured at the time of a loss is less than the insurable value of the insured property, the amount claimed under the policy will be reduced in proportion to the under-insurance. Also called average clause. See also coinsurance.
3.Marine insurance: 'Average' means partial (loss); particular-average loss is borne by one party, and general-average loss is shared by all concerned. Now largely replaced with institute cargo clauses A, B, or C.
4.Quality control: Most common expression of the centering of a distribution computed by dividing the total observed values by the number of observations.
5.Securities trading: Appropriately weighted mean of a 'basket' of selected securities representing general market behavior. Dow Jones Industrial Average (DJIA), which measures the performance of the stocks of 30 the largest US corporations, is one well-known example.

Use average in a sentence

  • The average age at which people become parents seems to be getting higher as more emphasis is being placed on establishing careers before starting families.

    11 people found this helpful    
  • The height of the average American male is about 5'7, while the height of the average Japanese male is 5'6.

    10 people found this helpful    
  • The average American household usually contains a married couple and at least two children who all live in the same house.

    9 people found this helpful    
Show more usage examples...

Related Videos




http://www.businessdictionary.com/definition/average.html

Have a question about average? Ask for help in the
Community
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z