Ross Co., Westerfield, Inc., and Jordan Company announced a new agreement to market their respective products...

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Finance

Ross Co., Westerfield, Inc., and Jordan Company announced a newagreement to market their respective products in China on July 18(7/18), February 12 (2/12), and October 7 (10/7), respectively.Given the information below, calculate the cumulative abnormalreturn (CAR) for these stocks as a group. Assume all companies havean expected return equal to the market return.(A negativevalue should be indicated by a minus sign. Leave no cells blank -be certain to enter "0" wherever required. Do not roundintermediate calculations. Round your answers to 1 decimalplace.)
Ross Co. Westerfield, Inc. Jordan Company
Date Market
Return Company
Return Date Market
Return Company
Return Date Market
Return Company
Return
7/12 -0.1 -0.9 2/8 -0.6 -0.9 10/1 0.4 0.5
7/13 0.2 0.3 2/9 -0.7 -0.9 10/2 0.3 0.5
7/16 0.5 0.7 2/10 0.5 0.6 10/3 0.8 1.3
7/17 -0.6 -0.2 2/11 0.7 1.1 10/6 -0.1 -0.8
7/18 -1.8 1.3 2/12 -0.1 0.1 10/7 -2.3 -0.8
7/19 -0.9 -0.5 2/15 1.2 1.5 10/8 0.2 0.4
7/20 -0.9 -0.2 2/16 0.7 0.6 10/9 -0.5 -0.5
7/23 0.6 0.4 2/17 -0.1 0 10/10 0.1 -0.1
7/24 0.2 0 2/18 0.6 0.4 10/13 -0.1 -0.6
Abnormal returns (Ri – RM)
Days from announcement Ross W’field Jordan Sum Average abnormal return Cumulative average residual
?4
?3
?2
?1
0
1
2
3
4

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Ross Co., Westerfield, Inc., and Jordan Company announced a newagreement to market their respective products in China on July 18(7/18), February 12 (2/12), and October 7 (10/7), respectively.Given the information below, calculate the cumulative abnormalreturn (CAR) for these stocks as a group. Assume all companies havean expected return equal to the market return.(A negativevalue should be indicated by a minus sign. Leave no cells blank -be certain to enter "0" wherever required. Do not roundintermediate calculations. Round your answers to 1 decimalplace.)Ross Co.Westerfield, Inc.Jordan CompanyDateMarketReturnCompanyReturnDateMarketReturnCompanyReturnDateMarketReturnCompanyReturn7/12-0.1-0.92/8-0.6-0.910/10.40.57/130.20.32/9-0.7-0.910/20.30.57/160.50.72/100.50.610/30.81.37/17-0.6-0.22/110.71.110/6-0.1-0.87/18-1.81.32/12-0.10.110/7-2.3-0.87/19-0.9-0.52/151.21.510/80.20.47/20-0.9-0.22/160.70.610/9-0.5-0.57/230.60.42/17-0.1010/100.1-0.17/240.202/180.60.410/13-0.1-0.6Abnormal returns (Ri – RM)Days from announcementRossW’fieldJordanSumAverage abnormal returnCumulative average residual?4?3?2?101234

Ross Co.			Westerfield, Inc.			Jordan Company
Date	Market Return	Company Return	Date	Market Return	Company Return	Date	Market Return	Company Return
7/12	-0.1	-0.9	2/8	-0.6	-0.9	10/1	0.4	0.5
7/13	0.2	0.3	2/9	-0.7	-0.9	10/2	0.3	0.5
7/16	0.5	0.7	2/10	0.5	0.6	10/3	0.8	1.3
7/17	-0.6	-0.2	2/11	0.7	1.1	10/6	-0.1	-0.8
7/18	-1.8	1.3	2/12	-0.1	0.1	10/7	-2.3	-0.8
7/19	-0.9	-0.5	2/15	1.2	1.5	10/8	0.2	0.4
7/20	-0.9	-0.2	2/16	0.7	0.6	10/9	-0.5	-0.5
7/23	0.6	0.4	2/17	-0.1	0	10/10	0.1	-0.1
7/24	0.2	0	2/18	0.6	0.4	10/13	-0.1	-0.6