Q6. [21 marks; 7 marks for each part] Explain the answers to these questions based on heuristics that people might employ. (a) Why do some people become particularly reluctant to fly after they observe a plane crash, even if statistically the probability of another crash is still the same? Which heuristic, that was covered in the lectures, explains the behavior of people? (b) A used car salesman has the following typical strategy for selling cars. His car is really worth 5000. But he starts his negotiations with a buyer by asking for a starting price of 6000. He then negotiates the price down to 5750 at which point the buyer is happy to buy the car. What heuristic is the salesman exploiting? (c) Why are many stock market traders who earned exceptionally high returns last year, likely to earn lower returns this year? Furthermore, those who earned very poor returns last year are likely to earn better returns this year. What statistical phenomena can explain this finding