OK, you start tripping beams at Mile 1, which starts a clock. When you hit mile two, it takes the new time, subtracts the old, then divides by 60 and 60 to get average MPH through that segment.
This happens at every mile, 1-2, 2-3, 3-4, 4-5. Or for the short course, 1-2, 2-3.
To set a record, you must exceed the average speed in the record book in any 1 mile segment.
The next day, you must average your 1-2, 2-3, (3-4), (4-5) from both runs.
Say you go 150, 155 on the two segments of the short course.
The next day, you run 160, and 170 on the same segments.
The average of the Mile 1 is 155mph. The average for the mile 2 is 162.5. Your official record becomes 162.5, not 170 or 160.
Clear as mud?
On the short course, only the 2-3 segment counts for records or qualifying. The 1-2 is for information only. ON the long course, the fastest mile is used and the same mile is used ( generally, but not always, the 4-5) See also Glen's response. And while on that topic- Glen- that is a real bummer. We will miss you.