BiasVarianceTradeOff.md

VARIANCE - The difference in fits between train and test datasets is called Variance.

The above diagram is HIGH VARIANCE - Great on Training | Bad on Testing Dataset
An ideal ML Algo is suppose to follow LOW VARIANCE - Good on Training | Good on Testing Dataset

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BIAS - The Ability of ML Algorithm to depict the relationship between variables.

The above diagram is HIGH BIAS - Bad on Training | Bad on Testing Dataset
An ideal ML Algo is suppose to folloe LOW BIAS - Good on Training | Good on Testing Dataset