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Delta, United, and American Airlines announced purchases of planes on July 18 (7/18), February 12 (2/12), and October 7 (10/7), respectively. Delta United American Date

Delta, United, and American Airlines announced purchases of planes on July 18 (7/18), February 12 (2/12), and October 7 (10/7), respectively.

Delta

United

American

Date

Market Return

Company Return

Date

Market Return

Company Return

Date

Market Return

Company Return

7/12

.41

.61

2/8

.90

1.20

10/1

.61

.41

7/13

.00

.31

2/9

1.00

1.20

10/2

.51

.81

7/16

1.09

1.36

2/10

.51

.24

10/3

1.21

1.21

7/17

1.09

.93

2/11

.71

3.16

10/6

.21

2.40

7/18

2.20

1.10

2/12

.41

.20

10/7

2.31

.41

7/19

.95

.55

2/15

1.21

2.66

10/8

.61

.61

7/20

1.00

1.22

2/16

.61

.61

10/9

.41

.19

7/23

.72

.31

2/17

.41

.23

10/10

.41

.26

7/24

.21

.02

2/18

.41

.31

10/13

.00

.21

Given the above information, calculate the cumulative abnormal return (CAR) for these stocks as a group. All of the stocks have a beta of 1 and no other announcements are made. (A negative answer should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g.

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