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A severe drought affected several western states for 3 years. A Christmas tree farmer is worried about thedroughtʹs effect on the size of his trees. To decide whether the growth of the trees has been retarded, the farmerdecides to take a sample of the heights of 25 trees and obtains the following results (recorded in inches) : The tree farmer feels the normal height of a tree that was unaffected by the drought would be 65 inches. Findthe z-score for a tree that is 65 inches tall.
Gold Standard
A monetary system where a country's currency or paper money has a value directly linked to gold, ensuring stability in exchange rates.
U.S. Dollar
The official currency of the United States of America, commonly used worldwide as a reserve currency and standard for international trade.
Kenyan Shillings
The official currency of Kenya, which is subdivided into 100 cents.
Floating Rate System
A currency exchange regime where a country's currency value is allowed to fluctuate in response to foreign exchange market mechanisms.
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