 |
|
| 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 |
|
|
average
A vague term that usually refers to the arithmetic mean but can also signify the median, mode, geometric mean, or weighted mean. The word stems from a commercial practice of the shipping age. The root aver means to declare, and the shippers of goods would declare the value of their goods. When the goods were sold, a deduction was made from each persons share, based on their declared value, for a portion of the loss or "average."
Related category
• APPROXIMATIONS AND AVERAGES
Also on this site:
Encyclopedia of Alternative Energy & Sustainable Living
Encyclopedia of History
Transport Concepts & Designs (partner site)