1, Dmitri, a college student going on a cruise over spring break, must decide whether to enter a contest to win free scuba equipment with unlimited free scuba dives. Assume Dmitri knows the amount of the contest entrance fee, the price of a scuba dive, and the price to rent the scuba equipment.For each of the following components of Dmitri's decision, select whether the item is a possible decision alternative, a state of nature, or a payoff/cost. (Note:In some cases, more than one monetary value contributes to a payoff. Classify any value that contributes to a payoff as a payoff.)

He enters the contest v He does not enter the contest Alternative ad Payoff He wins the contest State of nature He does not win the contest 7 Amount of the contest entrance fee V Price of a scuba dive v Price to rent the scuba equipment V Suppose you develop a decision tree for Dmitri's decision. In your tree you include a branch labeled \"Enter Contest" and a branch labeled \"Don't Enter.\" This pair of branches leaves a node that you should draw as a V , because it is V node