Assignment:
The setup is just as in the previous exercise, but now Peter tells Mark and Luke that they can switch the envelopes if and only if both of them have an interest in switching envelopes: each one gives Peter a sealed envelope with “yes” or “no” written in it, and the switch is effected only if both envelopes read “yes”. What will be Mark and Luke’s answers after having properly analyzed the situation? Justify your answer.
Provide complete and step by step solution for the question and show calculations and use formulas.