📐Bias refers to the model's inability to capture the true relationship between input and output. It is a measure of systematic error.
🎢Variance refers to the model's sensitivity to changes in the training data. High variance results in overfitting, while low variance leads to underfitting.
🔀The bias-variance tradeoff is a delicate balance between model complexity and generalization. It aims to find the optimal compromise between low bias and low variance.
🧪Regularization, boosting, and bagging are popular techniques used to address the bias-variance tradeoff and improve model performance.
🎯Choosing the right model for a given task involves evaluating its bias and variance tradeoff based on the specific requirements of the problem.