An entrepreneur wants to evaluate a set of business strategies that have some monetary implication for her business. The table below summarizes the payoffs $($or losses$)$ to the business under the four strategy choices $($Alternative A$,$ B$,$ C$,$ and D$)$ in the four possible states of nature. The four states of nature represent the four levels of consumer acceptance of the strategies of the business. The probabilities of the states of nature$1,2,3,$ and $4$ are $0\mathrm{.}1,0\mathrm{.}2,0\mathrm{.}3,$ and $0\mathrm{.}4,$ respectively. Upload your work in HW $3$ folder.

States of Nature

$1234$

Alternative A $48525868$

Alternative B $403089135$

Alternative C $68736571$

Alternative D $-110-8135210$

a$)$ Use the EMV method to find the best alternative.

b$)$ Create a decision tree for the above problem.