$($a$)$ What is the decision to be made, what is the chance evert, and what is the consequence?

Identify the aternatives for the decdsions and the possible outceomes for the chance events.

$($b$)$ Develop a dection tree. $($Enter manetary values in thousands and percentages in dedimal form.$).$

Deckian Tree

Description

$($c$)$ Use the expected volue approsch to recommend which alternative Seneca hill winery should fallow in arder to maximize expected annual profit,

EV$($Flant Chardonnay$)$

EV$($Rant both grapes$)$ Ev$($Plant Ricasing$)$

EV$($Flant Chardemensy$)$

EV$($Plant heth grapes$)$

Ev$($Plant Ricaling$)$ The best deason is

EV$($Flant Chardonnoy$)29$ X EV$($Plant beth grapes$)$

EV$($Plant beth grapes$)$ EV$($Plant Fiesiling$)$