Step 1: Concept
Cold, dilute alkaline $KMnO_{4}$ is known as Baeyer’s reagent.
Step 2: Meaning
It is used for the hydroxylation of alkenes.
Step 3: Analysis
- Reaction of an alkene with Baeyer's reagent results in the addition of two -OH groups across the double bond.
- This formation of a vicinal diol is commonly called a glycol.
Step 4: Conclusion
Hence, the correct product is Glycol.
Final Answer: (B)