Definitionen
1.NounThe statistical tendency toward a fixed proportion in the results when an experiment is repeated a large number of times.
2.NounAn imaginary or perceived "law" of probabilities which is wrongly used to predict results in the short-term."This coin has landed on heads ten times, so by the law of averages it must land on tails next time."
3.NounA real or purported law from centuries past regarding the distribution of recompense after a loss at sea due to an act of God, said by some (but not others) to explain why the word average evolved a sense having to do with means, medians, modes, etc.