The average waiting time will depend on how the arrival times are staggered, without knowing that I don't think we can establish an exact average.
Consider the simplest possibility, that all four buses are staggered equally, i.e. at $15$-minute intervals. Then the average wait time is clearly $7.5$ minutes, since your wait time is equally likely to be any one in the interval $(0,15)$.
Now consider an extreme possibility, like that the bus arrival times have gaps of $1, 1, 1$ and $57$ minutes. If you arrive in one of the three $1$-minute gaps, your average wait time would be $0.5$ minutes, while if you arrive in the $57$-minute gap, your average wait time will be $27.5$ minutes. Assuming your arrival time is uniformly spread over the one-hour interval, the probability of arriving during the $1$-minute gaps would be $\frac{1}{60}$ each, while the probability of arriving during the $57$-minute interval would be $\frac{57}{60}$. Thus your expected wait time in this scenario would be
$$3 \left( \frac{1}{60} \right) (0.5) + \left( \frac{57}{60} \right) (27.5) = 27.1 \text{ minutes}$$
In general, if the gaps between the arrival times for the four buses are $t_1, t_2, t_3$ and $t_4$, the the expected wait time will be
$$ \left( \frac{t_1}{60} \right) \left( \frac{t_1}{2} \right) + \left( \frac{t_2}{60} \right) \left( \frac{t_2}{2} \right) + \left( \frac{t_3}{60} \right) \left( \frac{t_3}{2} \right) + \left( \frac{t_4}{60} \right) \left( \frac{t_4}{2} \right) = \frac{t_1^2 + t_2^2 + t_3^2 + t_4^2}{120}$$
It is not difficult to see that the maximum average waiting time would be just under $30$ minutes (just imagine that the first three gaps in time are close to 0 and the last gap is close to the full hour.) To see that the minimum average waiting time is in fact $7.5$ minutes, we can take advantage of the QM-AM inequality:
$$
\sqrt{\frac{t_1^2 + t_2^2 + t_3^2 + t_4^2}{4}} \ge \frac{t_1 + t_2 + t_3 + t_4}{4} = 15 \text{ minutes}
$$
and so
$$\begin{align}
\frac{t_1^2 + t_2^2 + t_3^2 + t_4^2}{120} &= \frac{1}{30} \left( \sqrt{\frac{t_1^2 + t_2^2 + t_3^2 + t_4^2}{4}} \right)^2 \\[2mm]
&\ge \frac{1}{30} (15)^2 = 7.5 \text{ minutes}
\end{align}$$
To get an overall average time would require calculating one over all possible permutations of the time gaps; I don't know whether this is possible, perhaps someone else can suggest a more general solution.