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 Market Company Market Company Market Company Date Return Return Date Return Return Date Return Return 7 12 39 57 2 8 88 1 16 10 1 59 42 7 13 00 29 2 9 98 1 16 10 2 49 77 7 16 92 1 15 2 10 49 26 10 3 1 19 1 19 7 17 92 73 2 11 69 2 83 10 6 19 2 14 7 18 2 18 1 08 2 12 39 22 10 7 2 29 43 7 19 93 57 2 15 1 19 2 45 10 8 59 59 7 20 98 1 17 2 16 59 59 10 9 39 20 7 23 79 42 2 17 39 25 10 10 39 20 7 24 29 14 2 18 39 12 10 13 00 19 Given the above information, calculate the cumulative abnormal return (CAR) for these stocks as a group (Negative answers should be indicated by minus sign Leave no cells blank be certain to enter O wherever required Do not round intermediate calculations and round your final answers to 2 decimal places (e g , 32 16) ) Abnormal returns (R RM) Days from announcement Average abnormal return Cumulative average residual Delta United American Sum AWN 0 no ALLGO announced at Time t that it was acquiring DoLittle Industries There were no other announcements affecting these firms ALLGO's stock had daily returns of 2, 1, 5, 1, 1 for Timet 2 to Time t 2, respectively The daily returns on the market were 1, 2, 1, 2, and 2 for Time t 2 to Time t 2 respectively What is the cumulative abnormal return for these five days Multiple Choice

Question

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 Market Company Market Company Market Company Date Return Return Date Return Return Date Return Return 7 12   39   57 2 8   88  1 16 10 1  59 42 7 13  00  29 2 9   98  1 16 10 2  49 77 7 16  92 1 15 2 10 49  26 10 3 1 19 1 19 7 17   92   73 2 11  69 2 83 10 6 19  2 14 7 18  2 18 1 08 2 12   39   22 10 7  2 29   43 7 19   93   57 2 15 1 19 2 45 10 8  59  59 7 20   98  1 17 2 16  59  59 10 9   39   20 7 23  79 42 2 17   39   25 10 10  39  20 7 24 29 14 2 18  39  12 10 13  00   19 Given the above information, calculate the cumulative abnormal return (CAR) for these stocks as a group  (Negative answers should be indicated by minus sign  Leave no cells blank   be certain to enter  O  wherever required  Do not round intermediate calculations and round your final answers to 2 decimal places (e g , 32 16) ) Abnormal returns (R  RM)  Days from announcement Average abnormal return Cumulative average residual Delta United American Sum AWN 0  no ALLGO announced at Time t that it was acquiring DoLittle Industries  There were no other announcements affecting these firms  ALLGO's stock had daily returns of  2,  1,  5,  1,   1 for Timet 2 to Time t   2, respectively  The daily returns on the market were   1,  2,   1,  2, and  2 for Time t 2 to Time t   2 respectively  What is the cumulative abnormal return for these five days  Multiple Choice

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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 Market

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