Problem 3. Consider the example of cleaning your dorm except now there are BOTH rewards and costs. Suppose you have ,8, 6 preferences with ,6 = 0.7 and 6 = 1. You have to clean your room at some point over the next ve days. Depending on which day you clean your dorrnI your reward will be \"e and your cost will be q, where (C1102: 63154165) = (45: 45: 45:62:37) (\"1: \"mummy \"5) = (35, 45, 50,50,50) There are two possible cases for when you receive these payosr - Immediate costs: you incur the cost the day you do it, and receive the reward in the future. - Immediate rewards: you receive the reward the day you do it, and incur the cost in the future. For instance, if you do the activity on day 4, your cost is or = 62 and your reward is m = 60. For immediate costs, the cost of q = 62 is incurred on day 4 while the reward U4 2 60 is received sometime later. For immediate rewards, the reward 1114 = 60 is received on day 4 while the cost (14 = 62 is incurred sometime later. Since we are assuming 6 = l, exactly when is later is irrelevant. (1) Consider the case of immediate costs. When do naifs complete the task? 1W'hen do sophisticates complete the task? (2) Consider the case of immediate rewards. When do naifs complete the task? When do sophisticates complete the task? (3) Suppose you are EDU with 6 = 1. When is the best time for you to clean your room? How does your answer depend on whether it is immediate costs or immediate rewards? Centrast your answer with parts (1) and (2)