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Related to averages: Weighted averages

AVERAGE. A term used in commerce to signify a contribution made by the owners of the ship, freight and goods, on board, in proportion to their respective interests, towards any particular loss or expense sustained for the general safety of the ship and cargo; to the end that the particular loser may not be a greater sufferer than the owner of the ship and the other owners of goods on board. Marsh. Ins. B. 1, c. 12, s. 7; Code de Com. art. 397; 2 Hov. Supp. to Ves. jr. 407; Poth. Aver. art. Prel.
     2. Average is called general or gross average, because it falls generally upon the whole or gross amount of the ship, freight and cargo; and also to distinguish it from what is often though improperly termed particular average, but which in truth means a particular or partial, and not a general loss; or has no affinity to average properly so called. Besides these there are other small charges, called petty or accustomed averages; such as pilotage, towage, light-money, beaconage, anchorage, bridge toll, quarantine, river charges, signals, instructions, castle money, pier money, digging the ship out of the ice, and the like.
     3. A contribution upon general average can only be claimed in cases where, upon as much deliberate on and consultation between the captain and his officers as the occasion will admit of, it appears that the sacrifice at the time it was made, was absolutely and indispensably necessary for the preservation of the ship and cargo. To entitle the owner of the goods to an average contribution, the loss must evidently conduce to the preservation of the ship and the rest of the cargo; and it must appear that the ship and the rest of the cargo were in fact saved. Show. Ca. Parl. 20. See generally Code de Com. tit. 11 and 12; Park, Ins. c. 6; Marsh. Ins. B. 1, c. 12, s. 7 4 Mass. 548; 6 Mass. 125; 8 Mass. 467; 1 Caines' R. 196; 4 Dall. 459; 2 Binn. 547 4 Binn. 513; 2 Serg. & Rawle, 237, in note; 2 Serg. & Rawle, 229 3 Johns. Cas. 178; 1 Caines' R. 43; 2 Caines' R. 263; Id. 274; 8 Johns. R. 237, 2d edit 9 Johns. R. 9; 11 Johns. R 315 1 Caines' R. 573; 7 Johns R. 412; Wesk. Ins. tit. Average; 2 Barn. & Crest. 811 1 Rob. Adlm. Rep. 293; 2 New Rep. 378 18 Ves. 187; Lex. Mer. Armer. ch. 9; Bac Abr. Merchant, F; Vin. Abr. Contribution and' Average; Stev. on Av.; Ben. on Av.

References in classic literature ?
In the case of every species, many different checks, acting at different periods of life, and during different seasons or years, probably come into play; some one check or some few being generally the most potent, but all concurring in determining the average number or even the existence of the species.
If we wished to increase its average numbers in its new home, we should have to modify it in a different way to what we should have done in its native country; for we should have to give it some advantage over a different set of competitors or enemies.
Any one of them knows far more about sociology and all the other ologies than the average captain of industry.
Remember, we agreed that the average man is selfish."
In the realm of technical indicators, moving averages are extremely popular with market technicians and with good reason.
It is a similar story within the nabim groups, where the average Hagbergs are below 2006 averages in all cases.
For example, the statement that "most time-weighted averages were below the [Occupational Safety and Health Administration] OSHA (2005) standard of 2 [micro]g/[m.sup.3]" (Rosenman et al.
"The increasing prevalence of new development condo properties is swaying the overall averages upward with condominiums selling at a 34 percent higher price than co-ops on a price per square foot basis in the fourth quarter 2005."
[4] The student's course averages were calculated from the percentage score of four tests.
Imported averages derived from Form ERA-49 exclude oil purchased for SPR, whereas the composite averages derived from Form ERA-49 include SPR.
Of course, these are simple averages. It is possible that the pay for some kinds of teachers is relatively low.
This means that just one or two companies can change the averages a fair amount, even though we are reporting from a majority of the group being analyzed.