Ross Co., Westerfield, Inc., and Jordan Company announced a new agreement 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 abnormal return (CAR) for these stocks as a group. Assume all companies have an expected return equal to the market return. (A negative value should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 1 decimal place.) Company Return -0.3 Date 7/12 7/13 7/16 7/17 7/18 7/19 7/20 7/23 7/24 Ross Co. Market Return -0.4 0.8 -0.1 -0.6 -1.2 -1.5 -0.9 0. -0.2 1.3 -0.5 -0.8 0.4 Westerfield, Inc. Market Company Date Return Return 2/8 -0.4 2/9 -0.1 -0.3 2/10 -0.1 0.6 2/11 0.1 1.7 2/12 -0.1 0.1 2/15 0.6 1.5 2/16 0.7 2/17 -0.1 2/18 1.2 0.4 Jordan Company Market Company Date Return Return 10/1 1 1.1 10/2 0.9 1.1 10/3 0.2 1.3 10/6 -0.1 -0.2 10/2 -1.7 -0.2 10/B 0.1 10/9 -0.5 -1.1 10/10 0.1 -0.1 10/13 -0.6 Answer is complete but not entirely correct. Abnormal returns (Ri - RM) Days from announcement Ross W'field Jordan Sum -3 -2 - 1 (0.2) 02 0.23 02% 3.2 % 02 (0.1) (0.2) (0.1) (0.2) (0.1) (0.2) 02 02 0.1 0.08 0.1 (0.1) 0 02 06 0.43 (04) (19) 0.03 0.1 (02) (0.4) Average abnormal return (0.1) 0.23 0.13 0.0 0.53 0.13 0.03 (0.1) (0.2) 3 (0.2) 0.73 0.43 0.03 1.53 0.33 0.03 (0.3) (0.6) Cumulative average residual (3.9) (3.2) (2.1) (10) (0.5) 3 0.93 20 X 3.1 42 X 1 2 3 4