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Delta, United, and American Airlines announced purchases of planes on July 1 8 ( 7 / 1 8 ) , February 1 2 ( 2

Delta, United, and American Airlines announced purchases of planes on July 18(7/18), February 12(2/12), and October 7(10/7), respectively.
\table[[Delta,United,American],[,Market,Company,,Market,Company,,Market,Company],[Date,Return,Return,Date,Return,Return,Date,Return,Return],[7/12,-.33,-.45,28,-.82,-1.04,10/1,.53,.28],[713,.00,.23,29,-.92,-1.04,102,.43,.65],[7/16,.52,.76,210,.43,.19,103,1.13,1.13],[7/17,-.52,-.28,2/11,.63,1.43,106,.13,-.91],[7/18,-2.12,1.24,212,-.33,-.08,107,-2.23,-.29],[7/19,-.87,-.63,215,1.13,1.56,108,.53,.53],[720,-.92,-1.06,216,.53,.53,109,-.33,-.19],[723,.73,.48,217,-.33,-.19,1010,.33,-.09],[724,.23,.10,218,.33,.18,1013,.00,-.13]]
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.)
\table[[\table[[Days from],[announcement]],Abnormal returns (Ri-RM),\table[[Average abnormal],[return]],\table[[Cumulative],[abnormal return]]],[Delta,United,American,Sum],[-4],[-3],[-2],[-1],[0],[1],[2],[3,,,,,,],[4,,,,,,]]
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