Question: Using the data from Table 3.8.2 in Chapter 3, find the average and median to summarize the typical size of the market response to stock

Using the data from Table 3.8.2 in Chapter 3, find the average and median to summarize the typical size of the market response to stock buyback announcements.

TABLE 3.8.2 Market Response to Stock Buyback Announcements Three- Three- Month Price Month Price Company Change (%) Comp

TABLE 3.8.2 Market Response to Stock Buyback Announcements Three- Three- Month Price Month Price Company Change (%) Company Change (%) ITT Corp Tektronix 17.0 -7.5 Ohio Casualty General 12.7 13.9 Motors Kimberly-Clark Firestone 26.2 14.0 Anheuser-Busch 19.2 GAF Corp 14.3 Rockwell Hewlett-Packard 10.2 -1.1 Intl. Source: Data from The Wall Street Journal, September 18, 1987, p. 17. Their source is Salomon Brothers.

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