IF ANSWER HAS GREEN CHECKMARK, THE ANSWER IS CORRECT, IF ANSWER HAS RED X, THE ANSWER IS NOT CORRECT AND THAT IS WHAT I NEED HELP WITH!!!publications management made the following probability assessments. in the following table. (a) What is the decision to be made, what is the chance event, and what is the consequence? The decision to be made is to choose what type of grapes to plant \(\vee \). The chance event is . The chance event is Identify the alternatives for the decisions and the possible outcomes for the chance events. The alternatives for the decisions are . The possible outcomes for the chance events are (W,W),(W,S),(S,W),(S,S)(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 Hill Winery should follow in order to maximize expected annual profit.EV(Plant Chardonnay)32,500EV(Plant both grapes)29,600EV(Plant Riesling)29,000The best decision is to plant Chardonnay vv grapes.still 0.05 and 0.50.EV(Plant Chardonnay)32EV(Plant both grapes)36,400EV(Plant Riesling)33,000The best decision is to plantgrapes.Chardonnay grapes only are planted. Using the original probability assessments, determine how this change would affect the optimal decision.EV(Plant Chardonnay)28,000EV(Plant both grapes)29,600EV(Plant Riesling)The best decision is to plant bothgrapes.