The t-distribution, or Student's t-distribution, is a probability distribution used for estimating population parameters when sample sizes are small (n<30) or when the population standard deviation is unknown, featuring heavier tails compared to the normal distribution. It is characterized by degrees of freedom, which determine the shape, and is important for calculating critical values for statistical tests and confidence intervals. Key aspects include using the t-table for critical values and performing hypothesis tests to compare sample means against population means.