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1. The following table gives data on monthly changes in the spot price and the futures price for a certain commodity. Use the data to
1. The following table gives data on monthly changes in the spot price and the futures price for a certain commodity. Use the data to calculate a minimum variance hedge ratio Spot Price ChangeFutures Price Change +0.50 +0.61 -0.22 -0.35 +0.79 +0.04 +0.15 +0.70 0.51 0.41 +0.56 +0.63 -0.12 0.44 +0.60 -0.06 +0.01 +0.80 -0.56 0.46
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