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.

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In case of very large lambda; bias is high, variance is low

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.

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