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Question 8 (20pts.) The following table gives data on monthly changes in the spot price and the futures price for a certain commodity. Use the data to calculate a minimum variance hedge ratio. Spot Price Change +0.33 +0.24 -0.05 -0.13 +0.34 Futures Price Change +0.56 +0.63 -0.12 -0.44 +0.60 Spot Price Change +0.04 +0.15 +0.50 -0.26 -0.22 Futures Price Change 0.06 +0.01 +0.80 0.56 0.46 Question 8 (20pts.) The following table gives data on monthly changes in the spot price and the futures price for a certain commodity. Use the data to calculate a minimum variance hedge ratio. Spot Price Change +0.33 +0.24 -0.05 -0.13 +0.34 Futures Price Change +0.56 +0.63 -0.12 -0.44 +0.60 Spot Price Change +0.04 +0.15 +0.50 -0.26 -0.22 Futures Price Change 0.06 +0.01 +0.80 0.56 0.46