1- The average farm size in the U.S. is 442 acres and planting oats yield about 55 bushels per acre. The current spot price for oats is $2.6475 per bushel and the standard deviation is 14% over the period considered. Suppose the oats are to be sold in September. The futures settlement price for September is 262 cents per bushel. The spot price can increase by one standard deviation with a 55% probability or decrease by one standard deviation with a 45% probability. For the average farmer, is it best to sell the whole production in the futures market, spot market, or use a mix of both? If so, what mix should the average farmer use? As part of the answer, calculate the average and the standard deviation of the alternatives