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A stock traded at an average price of $30 over the course of a trading...

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A stock traded at an average price of $30 over the course of a trading day. The covariance of successive transaction price changes (trade-by-trade changes in the price) is about -0.05. Using Roll's model, what is your estimate of the bid- ask spread of the stock (measured in percent of the average price of $30)

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