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Baseball Reference question

Hi guys, quick question about the website baseeball reference. When viewing the team stats there is a stat for hitters labeled ops +, with a stat for pitchers that is era +. From prior knowledge i know that a 100 in either category is considered average, but the part i am confused about is just how much above average it is. For example, if a player has a ops + of 103 does that mean he is 3% above average? Any help is greatly appreciated.
Thanks

                                                                                                                                                                                                               

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