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This is the amount of loss the retailer will suffer if shoplifting occurs. The expected loss from shoplifting is the probability that shoplifting will occur multiplied by the amount of loss from shoplifting if it does occur.
The expected loss from shoplifting is the probability that shoplifting will occur (85%) multiplied by the amount of loss from shoplifting if it does occur ($80,000), which is $68,000.
This is the average of the highest amount of loss and the lowest amount of loss from all forms of theft. The expected loss from shoplifting is the probability that shoplifting will occur multiplied by the amount of loss from shoplifting if it does occur.
This is the sum of the products of the probabilities multiplied by each one's associated amount of loss. The expected loss from shoplifting is the probability that shoplifting will occur multiplied by the amount of loss from shoplifting if it does occur.