(a) Ms Brown holds a position in 200 shares of a mining stock with an annualized standard deviation of changes in the price of the stock being 30. Say that she wants to hedge this position over a one-year horizon with a mining stock index. Suppose that the index value has an annual standard deviation of 20 . The correlation between the two annual changes is 0.8. The minimum variance hedge ratio is and she should hold units of the index should she hold to have the bett hedger. (b) Mr Jones goes long 10 silver futures contracts on December 1 at a price. of \$4.52/02. He clases out the position at a price of \$4.40/oz if one silver futures contract is for 5,000 ounces, he gains or losses per contract and 5 in total