Using EXCEL attempt the following questions: Question 1: (10 marks) 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. Graph and interpret your results. Do your results support market efficiency? Ross Co. Market Return Company Return Date Westerfield, Inc. Date Market Return Company Return Feb 8 -.7 -9 Date Jordan Company Market Return Company Return 13 .5 -4 Oct 1 .1 .3 Feb 9 -.8 - 9 Oct 2 .2 .8 July 12 July 13 July 16 July 17 .6 .8 Feb 10 .6 .4 Oct 3 9 1.3 -.4 -.2 Feb 11 .8 1.0 Oct 6 -.1 -.5 1.9 1.3 Feb 12 .1 Oct 7 -2.4 -.5 July 18 July 19 July 20 -.8 -.6 Feb 15 1.3 1.4 Oct 8 3 .3 -.9 -1.0 Feb 16 .7 .7 Oct 9 5 .6 .4 Feb 17 -.1 .0 Oct 10 .1 -.1 July 23 July 24 .1 .0 Feb 18 .5 .4 Oct 13 -.6