What is OPS?

I'm tired of hearing all these sabermetric terms & me thinking I might know what they actually mean, so I did a little research. I started with OPS. OPS refers to "on-base percentage plus slugging percentage." By formula for you math majors, OPS = OBP + SLG. OBP or "on-base percentage" is calculated as follows: hits + base on balls + hit by pitch divided by at bats + base on balls + sacrifice fly + hit by pitch. SLG or "slugging percentage" is calculated as follows: total bases divided by at bats. So the entire OPS formula looks like this: OPS = (H + BB + HBP / AB + BB + SF + HBP) + (TB / AB). The average player has an OPS around .749. Bill James rates any player with an OPS of .900 or more as great or "A." I'll have a few more sabermetrics coming up in the near future.