5. It is October 1. An airline needs to buy 3,000,000 gallons of jet fuel early in November. The company wants to use the December heating oil futures contract to hedge its risk. Each contract is for the delivery of 42,000 gallons of heating oil. (a) Use the information in the Excel file Data for Problem 5 to find the optimal hedge ratio. How many futures contracts should the airline use to hedge its future purchase of jet fuel? What futures position should the airline take? Your answer must include an explanation on how the futures position offsets the airlines exposure to jet fuel prices. (b) Calculate the effectiveness of the hedge you found in part (a). Explain what is meant by hedge effectiveness.