Do you know what bias and variance are? These are some of the key concepts of data science. Although crucial to know, it is not always easy for even data scientists to understand these concepts clearly.
So in this video, we will go through the explanations of both bias and variance, basing their definition on logical ground. We will learn the implication of high bias and high variance and also how to address the issues created by high bias and high variance, namely underfitting and overfitting. We will talk about the bias-variance trade-off and why it is not as big of an issue as it used to be anymore.