Question

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. (Negative values 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.)

Ross Co.				Westerfield, Inc.				Jordan Company
Date	Market Return	Company Return		Date	Market Return	Company Return		Date	Market Return	Company Return
7/12	–.2	–.4		2/8	–.7	–.9		10/1	.3	.5
7/13	.1	.3		2/9	–.8	–.9		10/2	.2	.8
7/16	.6	.8		2/10	.6	.4		10/3	.9	1.3
7/17	–.4	–.2		2/11	.8	1.0		10/6	–.1	−.5
7/18	–1.9	1.3		2/12	–.1	.1		10/7	–2.4	−.5
7/19	–.8	–.6		2/15	1.3	1.4		10/8	.3	.3
7/20	–.9	–1.0		2/16	.7	.7		10/9	–.5	−.4
7/23	.6	.4		2/17	–.1	.0		10/10	.1	−.1
7/24	.1	.0		2/18	.5	.4		10/13	–.2	−.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

Answer 1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

FIRST IMAGE ANSWERS ARE TILL 3 DECIMALS

THEN SECOND IMAGE IS AS ASKED WITH 1 DECIMAL, SO IT IS EASY TO UNDERSTAND.