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What does arbitrate mean?

Looking for the meaning or definition of the word arbitrate? Here's what it means.

Verb
  1. To make a judgment (on a dispute) as an arbitrator or arbiter
  2. To submit (a dispute) to such judgment
  3. (mathematics) To assign an arbitrary value to, or otherwise determine arbitrarily.
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Examples
The court was given extensive powers to prevent strikes, arbitrate and enforce settlement of industrial disputes.
Senior monks serve as guidance counsellors, and advise and arbitrate in local disputes.
It is, however, often imprudent and officious to try and fix the problems and arbitrate the quarrels of strangers.
Firstly he legislated to restrict the Commission's power to arbitrate and, in doing so, its capacity to conciliate.
On his journey north to arbitrate in this dispute, Henry had a remarkable and memorable encounter.
The Commission is empowered to arbitrate on the issues contained in the matter.

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