Problem 7-5 Cumulative Abnormal Returns (LO2, CFA2) Ross Co, Westerfield, Inc., and Jordan Company announced a new agreement to market their respective products in China on July 18, February 12, and October 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 two decimal place.) masco Westerfield, Ino Jordan Company Market Company Market Company Market Company Date Return Return Date Return Return Data Return Return July 12 -.1 Feb -.2 Oct 1 1.2 1.3 July 13 Tab 9 Oct 2 1.3 July 16 .6 .5 Tab 10 Oet 3 1.3 July 17 -.6 Feb 11 1.9 Oct 6 July 18 -1.0 1.3 Feb 12 .1 Oet 7 -2.4 -. July 19 -.3 Feb 15 1.2 1.2 Oct 8 1.4 July 20 -1.0 Feb 16 .7 Oct 9 -.5 July 23 .4 Feb 17 -. Oet 10 . July 24 1.0 . Feb 18 Oct 13 1.0 .6 .0 . Days from announcement Abnormal returns (R-RM W field Jordan Ross Sum Average abnormal return Cumulative average residual -3 -2 0 1 2 4