With the Sekonic L758 light meter set to read spot mode in EV mode

1. I meter something I want as middle gray and press the memory button
2. I meter the darkest area I want detail and press the memory button
3. I meter the brightest area I want detail and press the memory button

The meter indicates that the Low value is 2 stops darker than the Middle value and the High value is 3 stops brighter than the Middle value.

Question:
If I then press the AVE button to get an average and use that reading as my taking exposure is that effectively putting the Low values on Zone 3 and the High Values on Zone 8?

Have I got this right?

Thanks.