Explain the bias–variance trade-off in supervised learning.
In your answer, cover:
-
What
bias
and
variance
mean in the context of a prediction model.
-
How total expected error can be decomposed into bias, variance, and irreducible noise.
-
How model complexity affects bias and variance (underfitting vs. overfitting).
-
How you would use this concept in practice when choosing or tuning models.