Set select option 'selected', by value
To select an option with value 'val2':
$('.id_100 option[value=val2]').attr('selected','selected');
There's an easier way that doesn't require you to go into the options tag:
$("div.id_100 select").val("val2");
Check out the this jQuery method.
NOTE: The above code does not trigger the change event. You need to call it like this for full compatibility:
$("div.id_100 select").val("val2").change();