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Sir didn’t getting the below sentence mean
Expected values are more useful for repeat decision rather than one offI guess you were exempt from Paper PM (was F5), because this is something examined a lot in PM.
Suppose the return from something is either 100 with a probability of 0.3 or 200 with a probability of 0.7.
The expected value is 170.If the decision is only made once then the return will be 100 or it will be 200 – it will not be 170.
If it is done many times, then sometimes it will be 100 and sometimes it will be 200, but on average it will be 170.
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