AZARIA PLC’s decision to produce a new line of recreational products resulted in the need to construct either a small medium or large plant. The best selection of plant size depends on how the marketplace reacts to the new product line. To conduct an analysis, marketing management has decided to view the possible long-run demand as low, medium, or high. The following payoff table shows the projected profit in millions of dollars. Long-Run Demand Plant Size Small Medium Large LOW 150 100 50 MEDIUM 200 170 200 HIGH 200 190 500 Required: a) If the decision maker knows nothing about the probabilities of the three states of nature, what is the recommended decision using the optimistic, conservative, and minimax regret approaches