Returns on crops per acre are presented in Table 6.17. Assume the variable cost per acre is $92 for crop 1, $45 for crop 2, $147 for crop 3, $60 for crop 4, and $80 for crop 5; further assume that the farmer has 1,280 acres and requires an income of $6,750. What portfolio of crops minimizes the risk while meeting this income goal?

Table 6.17

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Year Crop 1 2 3 4 5 2004 103.64 48.30 161.33 75.05 88.13 2005 98.16 46.67 155.68 70.25 87.28 2006 89.64 50.21 151.09 76.55 82.27 98.66 49.74 131.71 75.63 90.87 2007 2008 93.10 47.67 159.25 73.33 90.39. 2009 114.35 49.54 147.15 81.81 75.25 2010 97.61 45.92 154.76 73.95 82.31 2011 113.09 48.44 158.08 77.91 79.72 2012 99.65 52.86 151.50 72.28 87.82