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 MarketCompany MarketCompany MarketCompany Date Return Return Date Return Return Date Return Return 7/12 -.3 -.5 2/8 -.9 -1.1 10/1 .5 7/13 2 2/9 -1.0 -1.1 10/2 .4 7/16 .5 .7 2/10 4 2 10/3 1.1 -.5 -.3 2/11 .6 .8 10/6 1 -.3 7/18 -2.2 1.1 2/12 -.3 -1 10/7 -2.2 -.3 7/19 -.9 -.7 2/15 1.1 1.2 10/8 .5 7/20 -1.0 -1.1 2/16 5 .5 10/9 -.3 -.2 7/23 .7 .5 2/17 -2 10/10 .3 1 7/24 .2 .1 2/18 3 .2 10/13 0 -.1 7/17 5 .. -3 mo 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 1 decimal places, e.g., 32.1.) 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 "O" wherever required. Do not round intermediate calculations and round your answers to 1 decimal places, e.g., 32.1.) Abnormal returns (Ri RM) Delta United American Sum Days from announcement -4 Average abnormal return Cumulative abnormal return -0.31 -3 -2 -1 0 1 2 3 4