5. Suppose that the market for Stock X on a given date consisted of the transactions listed in the following table. The left two columns represented transactions for Stock X,

excluding the broker’s orders. The right two columns consisted of the broker’s orders only, all of which were orders to buy. What was the VWAP for shares of X stock for that day? What was the VWAP excluding the broker’s own orders? How did the broker perform relative to the market for his buy transactions?
Market for X Excluding Broker’s Transactions Broker’s Transactions for X # Shares Price # Shares Price 30,000 100.00 10,000 100.00 40,000 100.02 10,000 100.01 10,000 100.05 10,000 100.03 20,000 100.06 20,000 100.04 30,000 100.07 40,000 100.05 10,000 100.09 40,000 100.05