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1. Examine the series of daily prices and daily returns of Peachs shares in the accompanying Excel document Peach Excel.
   1. Graph daily prices on Y-axis and days on X-axis.
   2. Does the series look random or does it seem to represent a pattern?
      • Note: A series with a "pattern" seems to tell a "story", such as "Head and Shoulders" pattern. It makes it seem that you can tell what comes next in the series. A random series presents "random walk", as the walk of a drunkard. It shows unsystematic ups and down, as in "white noise". It does not seem to tell what comes next in the series.
2. I converted the daily prices of Peachs shares into daily returns. (Daily return is (P2-P1)/P1 1, where P1 is the price on one day and P2 is the price on the following day.)
   1. Graph daily returns on the Y-axis and days on the X-axis.
   2. Does the series look random or does it seem to represent a pattern?
3. What do the two graphs teach us about representativeness shortcuts and errors? What do they teach us about framing shortcuts and errors?

Day 1-200	Daily Price	Daily Return
1	16.39
2	15.78	-3.7%
3	15.36	-2.7%
4	15.48	0.8%
5	15.25	-1.4%
6	15.55	1.9%
7	16.19	4.1%
8	16.40	1.3%
9	16.53	0.8%
10	16.60	0.4%
11	16.56	-0.2%
12	16.15	-2.5%
13	16.90	4.7%
14	16.61	-1.7%
15	16.23	-2.3%
16	16.42	1.2%
17	16.09	-2.0%
18	15.57	-3.3%
19	16.25	4.4%
20	15.97	-1.7%
21	17.40	8.9%
22	17.66	1.5%
23	17.31	-2.0%
24	17.48	1.0%
25	17.65	0.9%
26	17.70	0.3%
27	17.66	-0.2%
28	18.03	2.1%
29	17.09	-5.2%
30	17.24	0.9%
31	17.96	4.2%
32	18.65	3.9%
33	18.84	1.0%
34	18.18	-3.5%
35	19.25	5.9%
36	18.39	-4.5%
37	18.25	-0.8%
38	19.33	5.9%
39	21.46	11.1%
40	21.69	1.0%
41	21.17	-2.4%
42	20.92	-1.2%
43	21.38	2.2%
44	22.30	4.3%
45	22.08	-1.0%
46	22.38	1.3%
47	22.30	-0.4%
48	21.80	-2.2%
49	21.76	-0.2%
50	21.48	-1.3%
51	23.39	8.9%
52	22.95	-1.9%
53	23.30	1.5%
54	23.29	0.0%
55	23.47	0.8%
56	23.88	1.7%
57	23.32	-2.3%
58	23.52	0.8%
59	23.68	0.7%
60	22.89	-3.3%
61	23.64	3.3%
62	23.69	0.2%
63	24.07	1.6%
64	23.76	-1.3%
65	23.70	-0.2%
66	23.94	1.0%
67	24.29	1.4%
68	23.35	-3.8%
69	23.26	-0.4%
70	23.61	1.5%
71	23.18	-1.8%
72	23.87	3.0%
73	23.93	0.2%
74	24.47	2.3%
75	24.49	0.1%
76	25.38	3.6%
77	25.24	-0.5%
78	25.35	0.4%
79	25.28	-0.3%
80	25.26	-0.1%
81	24.01	-4.9%
82	25.22	5.0%
83	24.79	-1.7%
84	25.27	1.9%
85	24.57	-2.7%
86	24.28	-1.2%
87	24.52	1.0%
88	24.57	0.2%
89	25.46	3.6%
90	25.09	-1.4%
91	26.08	3.9%
92	25.70	-1.5%
93	26.27	2.2%
94	23.61	-10.1%
95	23.86	1.1%
96	24.83	4.1%
97	24.64	-0.8%
98	24.55	-0.3%
99	24.93	1.5%
100	24.63	-1.2%
101	26.07	5.9%
102	26.50	1.6%
103	25.25	-4.7%
104	25.34	0.3%
105	25.43	0.4%
106	24.98	-1.8%
107	25.09	0.4%
108	24.56	-2.1%
109	24.71	0.6%
110	24.19	-2.1%
111	24.96	3.2%
112	25.24	1.1%
113	24.05	-4.7%
114	23.85	-0.9%
115	24.01	0.7%
116	23.50	-2.1%
117	24.29	3.3%
118	24.28	0.0%
119	23.97	-1.3%
120	24.03	0.3%
121	24.47	1.8%
122	24.68	0.9%
123	24.52	-0.7%
124	25.33	3.3%
125	26.19	3.4%
126	26.74	2.1%
127	26.98	0.9%
128	27.48	1.9%
129	27.47	0.0%
130	27.28	-0.7%
131	27.02	-1.0%
132	27.52	1.9%
133	27.34	-0.6%
134	27.47	0.4%
135	27.91	1.6%
136	28.12	0.7%
137	28.18	0.2%
138	26.79	-4.9%
139	26.45	-1.2%
140	26.50	0.2%
141	26.41	-0.3%
142	26.26	-0.6%
143	26.56	1.2%
144	26.49	-0.3%
145	26.94	1.7%
146	26.76	-0.7%
147	26.66	-0.4%
148	26.23	-1.6%
149	25.76	-1.8%
150	25.80	0.1%
151	26.20	1.5%
152	25.13	-4.1%
153	24.24	-3.6%
154	23.77	-1.9%
155	23.86	0.4%
156	23.59	-1.1%
157	21.29	-9.7%
158	20.11	-5.5%
159	20.22	0.5%
160	20.01	-1.0%
161	19.20	-4.1%
162	19.21	0.0%
163	19.09	-0.6%
164	19.24	0.8%
165	19.51	1.4%
166	19.47	-0.2%
167	19.38	-0.4%
168	19.23	-0.8%
169	19.82	3.1%
170	20.57	3.8%
171	20.82	1.2%
172	19.97	-4.0%
173	19.67	-1.5%
174	19.69	0.1%
175	20.25	2.8%
176	21.28	5.1%
177	21.19	-0.4%
178	20.40	-3.7%
179	20.26	-0.7%
180	19.81	-2.3%
181	19.18	-3.2%
182	19.30	0.6%
183	19.83	2.8%
184	19.87	0.2%
185	19.81	-0.3%
186	19.56	-1.2%
187	19.38	-1.0%
188	19.34	-0.2%
189	18.65	-3.5%
190	18.14	-2.8%
191	18.66	2.9%
192	19.38	3.8%
193	19.15	-1.2%
194	19.56	2.2%
195	18.89	-3.4%
196	19.80	4.8%
197	20.69	4.5%
198	20.52	-0.9%
199	20.55	0.1%
200	20.94	1.9%
201	20.14	-3.8%

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