A general expression which can be used either for predicting the average volumetric concentration or for analyzing and interpreting experimental data is derived. The analysis takes into account both the effect of nonuniform flow and concentration profiles as well as the effect of the local relative velocity between the phases. The first effect is taken into account by a distribution parameter, whereas the latter is accounted for by the weighted average drift velocity. Both effects are analyzed and evaluated. The results predicted by the analysis are compared with experimental data obtained for various two-phase flow regimes, with various liquid-gas mixtures in adiabatic, vertical flow over a wide pressure range. Good agreement with experimental data is shown.