What is the expected value of this opportunity

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Reference no: EM13976245

A black box has a total of 10 balls sitting inside. One ball is labeled $100. Two balls are labeled $200, and seven balls are labeled $300. Suppose that you are offered the opportunity of picking one ball at random, meaning you choose one ball but you can’t see it. What is the expected value of this opportunity?

a. $260 b. $230 c. $215 d. $285 e. $245

Reference no: EM13976245

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