Problem $14-15$ Underpricing

Having heard about IPO underpricing, I put in an order to my broker for $1,130$ 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?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

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.

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $1$ decimal place.

c$.$ "You have just encountered the problem of the winners' curse."

Answer is not complete.