Step 1 :Let's denote the event of Player 1 picking a venomous snake as V1 and picking a non-venomous snake as NV1. Similarly, for Player 2, let's denote the event of picking a venomous snake as V2 and picking a non-venomous snake as NV2.
Step 2 :The probability of Player 1 picking a venomous snake, P(V1), is 3/5 = 0.6 and the probability of picking a non-venomous snake, P(NV1), is 2/5 = 0.4.
Step 3 :If Player 1 picks a venomous snake, there are 2 venomous and 2 non-venomous snakes left. So, the probability of Player 2 picking a venomous snake after Player 1 has picked a venomous snake, P(V2|V1), is 2/4 = 0.5 and the probability of picking a non-venomous snake, P(NV2|V1), is also 2/4 = 0.5.
Step 4 :If Player 1 picks a non-venomous snake, there are 3 venomous and 1 non-venomous snake left. So, the probability of Player 2 picking a venomous snake after Player 1 has picked a non-venomous snake, P(V2|NV1), is 3/4 = 0.75 and the probability of picking a non-venomous snake, P(NV2|NV1), is 1/4 = 0.25.
Step 5 :The expected value of Player 2's pick after Player 1 has picked a venomous snake is E(Y|V1) = P(V2|V1)*0 + P(NV2|V1)*1 = 0.5*0 + 0.5*1 = 0.5.
Step 6 :The expected value of Player 2's pick after Player 1 has picked a non-venomous snake is E(Y|NV1) = P(V2|NV1)*0 + P(NV2|NV1)*1 = 0.75*0 + 0.25*1 = 0.25.
Step 7 :The total expected value of Player 2's pick is E(Y) = P(V1)*E(Y|V1) + P(NV1)*E(Y|NV1) = 0.6*0.5 + 0.4*0.25 = 0.4.
Step 8 :Final Answer: The expected value of Player 2's pick is \(\boxed{0.4}\).