+EV Situations in life?

Hello all,

I'm in the midst of writing my college application essay about using the EV formula (amount to be won)*(Chance of winning) - (amount to be lost)*(Chance of losing) to guide everyday life. There are certainly plenty of examples where one could use this formula outside the world of poker.

Please contribute any examples of times you have used the EV formula to make a decision, or if you haven't, places where hypothetically you could. No obvious simple answers like "Marriage = +EV"

I'd like explanations if possible, and as in depth answers as you are willing to provide. Thanks for any and all thoughts on this subject,

-Grant