4. For ten successive rounds, each team will select either an “X” or a

“Y” and submit their choice to the instructor on a small piece of paper with their team name on it. The “payoff ” for each round is determined by the patterns of choices made by the other teams as described below:

Choice Pattern Payout 4 Xs Lose $1 each 3 Xs Win $1 each 1 Y Lose $3 2 Xs Win $2 each 2 Ys Lose $2 each 1 X Win $3 3 Ys Lose $1 each 4 Ys Win $1 each Task: In each round, teammates confer and make a joint decision. Before rounds 5, 8, and 10, the teams will have a chance to confer with each other for three minutes before conferring with teammates for one minute and making a decision.

Note the three bonus rounds, where the payoff is multiplied.

Round Time Allowed Confer with Other Teams Your Choice $ Won $ Lost Balance Bonus?
1 2 min No No 2 1 No No 3 1 No No 4 1 No No 5 3 + 1 Yes Bonus 3X 6 1 No No 7 1 No No 8 3 + 1 Yes Bonus 5X 9 1 No No 10 3 + 1 Yes Bonus 10X