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Bias Variance Trade Off
Ankit Jha edited this page Jul 11, 2019
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Statquest https://www.youtube.com/watch?v=EuBBz3bI-aA&feature=youtu.be
The inability of a machine learning method to capture the true relationship is called bias.
The difference in fits between the data sets is called variance.
Err(x)=Bias^2 + Variance + Irreducible Error
We need an algo that has low bias (captures the true realtionship) and produces consistent results across different datasets.
ISLR https://www.youtube.com/watch?v=VusKAosxxyk
Blog http://scott.fortmann-roe.com/docs/BiasVariance.html#fn:1