Please state the explanation. Thank You

3. You are called on to decide how your company should State of Nature produce its new cell phone screen defroster (for use by skiers (State of the Economy) and others spending time out of doors in the cold). You Recession Stable Expansion Production develop a cost matrix ($000's), shown to the right. Complete Out-Source 210 340 280 parts a and b. In-House 150 230 400 a) What is the minimax choice? The minimax choice is to (1) b) What is the minimin choice? The minimin choice is to (2) (1) O produce in a recession. O out-source production. O produce when the economy is stable. O produce in-house. O produce in an expansion. (2) O out-source production. O produce when the economy is stable. O produce in an expansion. O produce in-house. O produce in a recession