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Suppose that there is a stock market index that tracks the performance of 5 large gambling corporations. This index is called Gambling Index The 5

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Suppose that there is a stock market index that tracks the performance of 5 large gambling corporations. This index is called "Gambling Index" The 5 stocks in the index are: Caesars Entertainment Corp (Stock Symbol: CZR): Shares Outstanding: 144, 210 Las Vegas Sands Corp (Stock Symbol: LVS): Shares Outstanding: 814, 770 MGM Resorts International (Stock Symbol: MGM): Shares Outstanding: 490, 610 Monarch Casino & Resort (Stock Symbol: MCRI): Shares Outstanding: 16, 670 Wynn Resorts Ltd (Stock Symbol: WYNN): Shares Outstanding: 100, 820 Go to f1nance.yahoo.com and retrieve the stock price of each of the firms in the Gambling Index for two dates: July 14. 2016 and July 15, 2016. [Enter the stock symbol, then click on historical prices, and use the "Adj. close" price] (a) Compute the daily percentage return of the index between July 14, 2016 and July 15, 2016 using a price-weighted index. The initial price is the adjusted close price from July 14 and the end price is the adjusted close price from July 15. (b) Compute the daily percentage return of the index between July 14, 2016 and July 15, 2016 using a value-weighted index

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