The word “average” comes from the Old French word “avarie” which means “damage to ship or cargo,” and is derived from the Arabic word “awar” which means “damaged merchandise.” In the Middle Ages, “avarie” came to refer to the distribution of the cost of such damage among the ship’s owners and cargo owners. By the 16th century, “average” had taken on the meaning of a division of a loss or expense among several parties. Today, “average” is used to describe a number or quantity that represents a typical or ordinary value within a larger group or population.