60 Probability vs critical value

Unlock the mystery behind econometrics tables! Ever wondered why the Z table gives probabilities while the T table provides critical values? This video breaks down the core difference, revealing that both are fundamentally about the area under a curve, but they answer distinct questions. Learn how the Z table maps values to probabilities and how the T table works in reverse, providing cutoffs based on desired probabilities. We'll explore the logic behind these tables and set the stage for understanding P values in the next installment. Subscribe to @AxiomTutoringCourses.