Problem 5S-1 (Static) A small building contractor has recently experienced two successive years in which work opportunities exceeded the firm's capacity. The contractor must now make a decision on capacity for next year. Estimated profits under each of the two possible states of nature are as shown in the table below. Alternative Do nothing Expand Subcontract NEXT YEAR'S DEMAND Low High $50 $60 20 80 40 70 . Profit in $ thousands Click here for the Excel Data File Which alternative should be selected if the decision criterion is (Enter your answers in thousands.) Payolt Alternative b Criterion Maxmax Maximin Laplace Minimax regret C d Segoe UI 11 ' Paste BI U 8v GA A1 xv fx A B D 1 NEXT YEAR'S DEMAND 2 Alternative 3 Do Nothing 4 Expand 5 Subcontract Low $50 20 40 High $60 80 70 6 7 8 9