(b) Develop a decision tree. (Enter monetary values in thousands and percentages in decimal form.) (c) Use the expected value approach to recommend which alternative Seneca hui Winery should follow in crder to maximize expected annual prefit Evipiant Chardornay) EV(Piant both grapes) Evipiant hesling) The best decision is to piant. x help of some forecasts in industry publications management made the following probabity assessmets. (a) What is the dedsion to be mide, whot is the chance event, and what is the consequence? The dedision to be made is - The ohance event is 1. The contequence is The aternatives for the decions are 1. The pestule eutcorties for ihe ohance events are (c) Use the expectes value approbch to recommend which ekernative Seneca His winery should follow in order to maximite expected annual profit. EV(Plant Chardonney) EV(Plant both grapes) EV(Plant Riesling) The best decision is to plant. x 0.40 . How does this change the recommended decason? Assume that the probeblities when Chardonesy demand is weak ere stil 0.05 and 0.30. ev(Want Chardenner) Ev(plant boeh erapes) triphant pueding) The best deciven is to plant orapes: decivion. Ev(piant chardonney) Evirant bodi grapes) evpriant viesling) The best decivion is to plant prapes