Q12. What would have happened if you hedged using the econometric (optimal) hedge ratio (HR*) and optimal number of futures contract (NFC*)? Using the following table, calculate the revenue from selling the live animals in the local cash market, gain/loss from the futures position, total revenue, and net realized price per pound of live animal. Compare the results with the answers to questions 10 and 11. (10 points)

Q12. What would have happened if you hedged using the econometric (optimal) hedge ratio (HR ) and optimal number of futures contract (NFC) )? Using the following table, calculate the revenue from selling the live animals in the local cash market, gain/loss from the futures position, total revenue, and net realized price per pound of live animal. Compare the results with the answers to questions 10 and 11.(10 points) Q12. What would have happened if you hedged using the econometric (optimal) hedge ratio (HR ) and optimal number of futures contract (NFC) )? Using the following table, calculate the revenue from selling the live animals in the local cash market, gain/loss from the futures position, total revenue, and net realized price per pound of live animal. Compare the results with the answers to questions 10 and 11.(10 points)