NASDAQ is an acronym for National Association of Securities Dealers Automated Quotation System. It is the first and largest electronic stock exchange in the world. Trading on the NASDAQ takes place not on a physical trading floor, but over an electronic communications network. Consider a hypothetical company XYZ listed on the NASDAQ. A stockbroker made the following purchases of XYZ shares: Time of Trade Table 1 Purchase Price per Share $95.25 9:40 AM Number of Shares 1,000 2,500 10:34 AM $99.71 11:15 AM $92.64 5,000 12:37 PM $93.39 3,500 The broker bought shares for a total price of The weighted mean price per share for these purchases is The stockbroker made the following sales of the XYZ shares he had purchased earlier: Table 2 Time of Trade Selling Price per Share Number of Shares 10:17 AM $102.25 1,500 10:53 AM $109.46 2,000 1:20 PM $107.64 3:37 PM $92.14 6,000 2,500 The broker sold shares for a total price of The weighted mean price per share for these sales is The broker from the above trades