Preface
The definition of average speed of an object is defined by the distance travelled over time: $$v_{avg} = \frac{x_2 - x_1}{t_2 - t_1}$$ The interpretation of speed is that when you multiply speed with the time interval, you should get the distance you travelled at this interval. However, it does not measure the local variation so a better definition is the instantaneous speed: $$v = \lim_{\Delta t\rightarrow0} \frac{\Delta x}{\Delta t}$$ The above are very standard stuff for introduction mechanics course.
Average speed with equal segments
Now, if we have speed for consecutive paths with equal length, beginner students often commit an error. They may use the following: $$v_{avg} = \frac{1}{2}(v_1 + v_2)$$ as average speed between the start point and ending point, which is WRONG in general. The correct way to obtain the effective average speed is $$v_{avg}=\left(\frac{1}{N}\sum_{i}^{n}v_{i}^{-1}\right)^{-1}$$
Mean of varying speed measurements for the same path
Now, suppose that there is a situation that the distance between a starting point and an ending point is fixed. Now, there are experiments to measure the time spent by the traveller (or vehicle, or particle) moving along this path multiple time. Because the time it takes is always different, so we can obtain a list of speed $v_1, v_2, v_3, ..., v_n$ that differ with each other. Presumably there is a corresponding speed distribution $\mathcal{P}(v)$ for the speed travelling along this path. The mean of the speed distribution is given by:
$$\left\langle v\right\rangle = \int_0^\infty \mathcal{P}(v) dv \approx \frac{1}{N} \sum_i^n v_i$$
Note that it is different from the average speed that defined at the first part. It is the mean of the speed distribution function and it is similar to the "wrong $v_{avg}$" discussed in the previous part. Please do not mix it up with the average speed defined above.
So my question: I am seeking an interpretation of this quantity $\left\langle v\right\rangle$, that is, I want to know the situations/problems that this idea of $\left\langle v\right\rangle$ can be applied.