average

/ˈævərɪdʒ/ noun (written abbreviation av, written abbreviation av., written abbreviation ave)

Definition

› [C] the result that you get by adding two or more amounts together and dividing this total by the number of amounts: daily/monthly/quarterly average Trading was 297 million shares, down from the three-month daily average of 313 million shares. The state's unemployment rate remained well below the national average of 5.7 percent.an average of Its economy has grown at an annual average of 3.6% for the past seven years. Regulators are careful to stress that the performance figures are only averages - some companies performed better. → Compare mean, median, mode

› [C or U] a level or standard that is considered to be typical for a particular place, group of people, type of business, etc.: above/below (the) average Our companies' profitability is above the sector average. Most of these businesses match industry averages in job creation.

› [U] INSURANCE partial loss

› STOCK MARKET an average that is based on a particular group of companies' shares, which is used to represent changes in the stock market or to show which types of businesses are getting the most investors: the industrial average

on average › typically or usually: On average, only about half of the consumers who qualify for a rebate actually collect it.