Question: Solve it correctly please. I ll rate accordingly. 3. Pierre is playing a game in which he tosses two fair coins. If both coins land

Solve it correctly please. I ll rate accordingly.

3. Pierre is playing a game in which he tosses two fair coins. If both coins land on tails, he wins a prize. a.) Find the probability that Pierre wins a prize on his first turn. b.) Pierre decides to keep playing the game until he wins two prizes. Find the probability that he wins his second prize on his eighth turn

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1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.