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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 .42 .63 2/8 .91 1.22 10/1 .62 .40
7/13 .00 .32 2/9 1.01 1.22 10/2 .52 .69
7/16 1.26 1.46 2/10 .52 .32 10/3 1.22 1.22
7/17 1.26 1.08 2/11 .72 3.34 10/6 .22 2.58
7/18 2.21 1.11 2/12 .42 .19 10/7 2.32 .45
7/19 .85 .70 2/15 1.22 2.78 10/8 .62 .62
7/20 .91 1.14 2/16 .62 .62 10/9 .42 .19
7/23 .73 .53 2/17 .42 .22 10/10 .42 .25
7/24 .22 .01 2/18 .42 .30 10/13 .00 .22

Given the above information, calculate the cumulative abnormal return (CAR) for these stocks as a group. (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.)

Abnormal returns (Ri RM)
Days from announcement Delta United American Sum Average abnormal return Cumulative abnormal return
4
3
2
1
0
1
2
3
4

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