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Suppose you have fitted a complex regression model on a dataset. Now, you are using Ridge regression with tuning parameter lambda to reduce its complexity. Choose the option(s) below which describes relationship of bias and variance with lambda.

Correct Answer: in case of very large lambda; bias is high, variance is low

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Machine Learning (ML) MCQ: Suppose you have fitted a complex regression model on a dataset. Now, you are using Ridge regression with tuning parameter lambda to reduce its complexity. Choose the option(s) below which describes relationship of bias and variance with lambda. | Extra Education