hee hee y'all are so predictable. I knew that question would start an interesting, pedantic, esoteric discussion that would conclude the answer is "depends..."
As for the analogy raised of the tree falling in the forest, there is another possibility besides the two mentioned. I remember from the dim dark recesses of my brain and first or second year Philosophy that the illustration comes from the work of Irish Philosopher George Berkely who invented 'subjective idealism' - the idea that things only exist as perceived by sentient beings. But because God is The Being who is always perceiving everything, then yes, the tree falling in the forest with no human being there to observe it still exists, as best and most famously summarised in a limerick written about Berkely's views by Catholic Theologian Ronald Knox:
There once was a man who said “God
must think it extremely odd
that this tree
continues to be
when there’s no one about in the Quad
Dear Sir, your astonishment’s odd
I am always about in the quad
that’s why this tree
will continue to be
since observed by, yours truly God
