The following payoff table has been developed for a decision situation to select an alternative that would give the highest contribution. The probabilities for the events 1, 2 and 3 respectively are: p(1) = 0.30, p(2) = 0.50. P(3) = 0.20 Events Alternatives 1 2 3 500 700 1000 B 900 400 800 C 700 950 600 Compute the expected monetary value for each option and recommend the decision that should be made based on this criterion. Fill in your answers in the spaces provided below. The expected monetary values for each of the alternatives are: (Hint: Insert commas for thousands e.g. 10,000 and not 10000) Option A, EMV=sh Option B. EMV sh Option C. EMV = sh The recommended alternative is