The dissociation of hydrogen iodide (HI) can be represented by the equilibrium reaction:
\[
2 HI (g) \rightleftharpoons H_2 (g) + I_2 (g)
\]
The equilibrium constant expression \( K_c \) for this reaction is given by:
\[
K_c = \frac{[H_2][I_2]}{[HI]^2}
\]
At 773 K, the value of the equilibrium constant \( K_c \) for the dissociation of HI is experimentally determined and is known to be:
\[
K_c = 2 \times 10^{-2}
\]
This relatively small value indicates that, at 773 K, the equilibrium lies significantly toward the reactants (HI), meaning only a small fraction of HI dissociates into H₂ and I₂ at this temperature.
Therefore, the correct value of the equilibrium constant for the dissociation of HI at 773 K is:
\[
\boxed{2 \times 10^{-2}}
\]