Consider a manufacturer of perfume who is about to expand production capacity to make a new product. Three alternative production processes are available. The following table shows the estimated profits (in $) for these processes for each of the three possible demand levels for the product. Alternatives States of Nature Low demand Moderate demand High demand A 100,000 350,000 900,000 B 150,000 400,000 700,000 C 250,000 400,000 600,000 Based on the above information, which alternative production process do you choose under maximin criterion? a. Production process B with $150,000 payoff. b. Production process A with $100,000 payoff. c. Production process C with $250,000 payoff. d. Production process A with $350,000 payoff