Refer to the Academy of Management Journal (Aug. 2008) study of corporate acquisitions from 1980 to 2000, Exercise 2.12.
a. Construct a time series plot of the number of firms with at least one acquisition.
b. For each year, compute the percentage of sampled firms with at least one acquisition. Then construct a time series plot of these percentages.
c. Which time series plot, part a or part b, is more informative about the history of corporate acquisitions or time? Explain.

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Number of Firms Sampled Number with Acquisitions Year 1980 1990 2000 1,963 2,197 2.778 18 350 748