Question: (Please do one of the following, but not both)

a) You are offered a choice of two envelopes and told that one envelop has twice as much as the other and that you can change your mind after opening one of the envelopes. You choose Envelope B and find $1000. Now will you always switch envelopes? Substantiate your decision.

b) Males who have never smoked average 14.8 days of restricted activity per year, while present smokers average 22.5 days and former smokers average 23.5 days. Do these data show that it is healthiest to never smoke, but once you start smoking, it is better not to stop?