Expected loss

{
  "id": "MLC-T-ENV-030752",
  "term": "Expected loss",
  "field": "Environment",
  "definition": "The quantity obtained by multiplying the magnitude of health or environmental effect loss by the probability (or risk) of that loss and adding the products. The expected loss is the average loss over a large number of trials; one must reflect on the appropriateness of its use in cases for which there will be only one, or a few, trials.",
  "subject": "Health and safety",
  "references": [
    "RAIS 2004, SRA 2004"
  ],
  "url": "https://mlchart.com/terminology/environment/expected-loss/"
}