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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).

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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 "O" wherever required. Do not round Intermediate calculations. Round your answers to 1 decimal place.) Ross co. Market Return -0.5 1.8 -0.2 -0.6 -0.5 Date 7/12 7/13 7/16 7/17 7/18 7/19 7/20 7/23 7/24 Westerfield, Inc. Company Market Company Return Date Return Return -0.6 2/8 -0.6 0.3 2/9 -0.6 e.3 2/10 0.6 -0.2 2/11 0.5 2.7 2/12 -0.1 9.1 -0.1 2/15 1.3 1.9 -0.9 2/16 0.4 -0.1 02/18 0.4 Jordan Company Market Company Date Return Return 10/1 0.8 10/2 1.9 10/3 0.6 10/6 9.1 10/2 -1.6 10/8 0.4 10/9 -0.5 10/10 0.1 10/13 -0.5 -0.5 -2.5 -0.9 1.3 9.8 0.6 2/17 1.8 Days from announcement Abnormal returns (Ri - RM) W field Jordan Ross Average abnormal return Cumulative average residual -2

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