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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 .44 .67 2/8 .93 1.26 10/1 .64 .38
7/13 .00 .34 2/9 1.03 1.26 10/2 .54 .73
7/16 1.55 1.73 2/10 .54 .36 10/3 1.24 1.24
7/17 1.55 1.33 2/11 .74 3.73 10/6 .24 2.97
7/18 2.23 1.13 2/12 .44 .17 10/7 2.34 .43
7/19 .87 .68 2/15 1.24 3.05 10/8 .64 .64
7/20 .93 1.18 2/16 .64 .64 10/9 .44 .19
7/23 .75 .51 2/17 .44 .31 10/10 .44 .23
7/24 .24 .06 2/18 .44 .28 10/13 .00 .24

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., 32.16.)

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