You are given a conversation between two people. 'Person1:' and 'Person2:' are used to separate their respective dialogues. You are required to assign a label 'formal' if there is an absence of emotion and a presence of questions anywhere within the conversation. If such pattern is not found assign the label 'informal'.

Person1: He has a long head , I bet he will do well in his business .
Person2:He does , he started five years ago and now ends up the richest among us .
Person1: When we were students , he was no good in any subject .
Person2:It seemed to be useless to study well when we were young if we examine his case .
informal