Using the data given for British Pound futures contracts design a suitable hedge that would minimize Pre-Fabs

Question:

Using the data given for British Pound futures contracts design a suitable hedge that would minimize Pre-Fab’s exposure to fluctuations in the exchange rate between the US$ and the British Pound. Explain the results of the hedge if by September 2005, when payment is received from the British wholesalers, the exchange rate goes to $1.350 per British Pound.

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...

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