Having heard about IPO underpricing, I put in an order to my broker for $1,180$ shares of every IPO he can get for me$.$ After $3$ months, my

investment record is as follows:

a$.$ What is the average underpricing in dollars of this sample of IPOs? $($Do not round intermediate calculations. Round your answer to

$2$ decimal places.$)$

Answer is not complete.

Average underpricing

b$.$ What is the average initial return on my "portfolio" of shares purchased from the four IPOs that I bid on$?$ When calculating this

average initial return, remember to weight by the amount of money invested in each issue. $($Do not round intermediate calculations.

Enter your answer as a percent rounded to $1$ decimal place.$)$

Answer is complete but not entirely correct.