Question: A black box has 10 small balls inside that are of the same shape and weight. One of the balls is designated as having the

A black box has 10 small balls inside that are of the same shape and weight. One of the balls is designated as having the value of $100, two of the balls is designated as having the value of $200, and seven of the balls is designated as having the value of $300. Suppose you place your hand in the box and, without being able to see, pull out one of these balls. What is the expected value of the ball?

A. Expected Value = $100

B. Expected Value = $260

C. Expected Value = $200

D. Expected Value = $300

E. Expected Value = $240

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