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Question 10 (1 point) Suppose that the standard deviation of quarterly changes in the prices of a commodity is $0.64. the standard deviation of quarterly changes in a futures price on the commodity is $0.77, and the coefficient of correlation between the two price changes is -0.79. What is the optimal hedge ratio for a three-month contract? Please answer to two decimal places] [Please answer to two decimal places Your Answer: Your Answer Question 11 (1 point) A packer enters into a long live cattle futures contract when the futures price is $0.95 per pound. The contract is to take delivery of 40,000 pounds of live cattle. How much does the packer gain or lose if the live cattle price at the end of the contract is 0.76 dollar per pound? [Please answer to two decimal places. One contract of live cattle is 40,000 pounds.] Your Answer:- Your Answer Question 12 (1 point) It is February 2nd. A trader enters into a short cotton futures contract when the futures price is 0.96 dollar per pound. The contract is for the delivery of 50,000 pounds. In April, when the basis is 0.22 dollar per pound UNDER, the trader offsets his futures position. What is the cash price of cotton in April? Your Answer: Your