Statistics for Data Science and Business Analysis - The Standard Normal Distribution

The video tutorial explains the process of standardizing distributions, transforming a variable to have a mean of zero and a standard deviation of one. It introduces the concept of a standard normal distribution, denoted by Z, and provides an example using a data set. The tutorial walks through the steps of subtracting the mean and dividing by the standard deviation to achieve standardization. It concludes by highlighting the benefits of using standardized data for predictions and inference.

What happens to the standard deviation when you add or subtract values from all data points?

Explain how to obtain a standard normal distribution from a normally distributed data set.