Thompson Lumber Company wants to decide if they want to expand their current product line by manufacturing a new product, backyard storage sheds. They decide their alternatives are to (1) construct a new large plant to manufacture storage sheds, (2) a small plant, or (3) no plant at all. To identify the possible outcomes, management created the payoff table, indicating profits below. Support your answer by showing all work. Favorable Market Unfavorable Market Alternative ($) Large Plant 200,000 - 180,000 Small Plant 100,000 -20,000 Do nothing 0 1. What decision would you make if you were optimistic and applied the maximax criterion? 2. What decision would you make if you applied the minmax regret rule