Calculate the expected value of each action. EV(Fully Changeable Fare) = $ 525.00 EV(Non-refundable Fare) = $ 517.50 (Simplify your answers.) Which is the better action? O A. Purchasing the fully changeable fare is the better action since it has the lower expected value. C B. Purchasing the non-refundable fare is the better action since it has the lower expected value. O C. Purchasing the fully changeable fare is the better action since it has the greater expected value. O D. Purchasing the non-refundable fare is the better action since it has the greater expected value. O E. Both actions are equally good since they both have the same expected value.You are planning a trip home at the end of the semester and need to make plane reservations soon. However, you've just had a preliminary interview with a consulting firm that seemed to go very well. There's a chance that they will want you to stay for a few days at the end of the semester for a round of interviews at their offices, which will mean you'll have to change the date of the flight if you make the reservation now. Suppose that you can purchase a changeable fare for $775 or a non-refundable fare for $650 for which a change costs $200. If you think the probability of being called for an interview is 0.30, calculate the expected value of each action. Which is the better action in this case