Air France expects to purchase 7.5 million gallons of jet fuel in one month and decides to use heating oil futures for heading. The following table gives the data on the change in the jet fuel price (AS) per gallon and corresponding change in the futures price (AF) for the contract on heating oil that would be used for hedging price changes: Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Changes in futures price per Changes in fuel price per gallon AF gallon as 0.021 0.029 0.035 0.020 -0.046 -0.044 0.001 0.008 0.044 0.026 -0.029 -0.019 -0.026 -0.010 -0.029 -0.007 0.048 0.043 -0.006 0.011 -0.036 -.036 -0.011 -0.018 0.019 0.009 -0.027 -.032 0.029 0.023 If each heating oil contract traded on MCX is on 56000 gallons of heating oil, calculate minimum hedge ratio and Optimal number of futures contracts on heating oil to be purchased by Air France to hedge its exposure in price of jet fuel. How will you measure the effectiveness of the hedge