2. When exercising your body releases these chemicals. These chemicals are endorphins. endorphins interact with the receptors in you brain. They reduce your perception of the pain you may feel. Endorphins also trigger your body in a positive feeling. almost the same to morphine.
3. When you are in a good state of mind it helps your brain observe/focus better. The stress in your body is at low rates. When you are stressing you easily get distracted. When you aren't stressing your body is able to in take everything that it can hear. When being stress free there isn't o doubts or anything to distract you.
This is basically just because older adults are more mature and less impulsive whereas young people are more likely to go overboard with their alcohol consumption resulting in blackouts.