Introduction to Probability: Student's T Distribution

👉 Download Our Free Data Science Career Guide:✅https://bit.ly/31R2ZAP 👉 Sign up for Our Complete Data Science Training:✅https://bit.ly/33W2iJf In this Introduction to Probability video, we’ll talk about the Student’s T Distribution and its characteristics.

For starters, we use the lower-case letter “t” to define a Students’ T distribution, followed by a single parameter in parenthesis, called “degrees of freedom”.

As we mentioned in the last video, it is a small sample size approximation of a Normal Distribution. In instances, where we would assume a Normal distribution were it not for the limited number of observations, we use the Students’ T distribution.

For instance, the average lap times for the entire season of a Formula 1 race follow a Normal Distribution, but the lap times for the first lap of the Monaco Grand Prix would follow a Students’ T distribution.

Now, the curve of the students’ T distribution is also bell-shaped and symmetric. However, it has fatter tails to accommodate the occurrence of values far away from the mean. That is because if such a value features in our limited data, it would be representing a bigger part of the total.

Another key difference between the Students’ T Distribution and the Normal one is that apart from the mean and variance, we must also define the degrees of freedom for the distribution…

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