To compute the average of, especially the arithmetic mean.

"If you average 10, 20 and 24, you get 18."

Over a period of time or across members of a population, to have or generate a mean value of.

"I averaged 75% in my examinations this year."

To divide among a number, according to a given proportion.

"to average a loss"

To be, generally or on average.

The process of computing an average.