Which option should you select?

Explanation/Reference:
* Permission Policy
On the SharePoint Central Administration website, in the Application Management section, click Manage web applications. Click to highlight the web application whose permission policy that you want to manage.
In the Policy group of the ribbon, click Anonymous Policy.
In the Anonymous Access Restrictions dialog box, in the Zone list, click the zone for which you want the policy to apply. In the Permissions section, select the permission policy that you want anonymous users to have, and then click Save.