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What is variance in machine learning? Variance refers to the changes in the model when using different portions of the training data set. Simply stated, variance is the variability in the model prediction?how much the ML function can adjust depending on the given data set.
When the errors associated with testing data increase, it is referred to as high variance, and vice versa for low variance. High Variance: High testing data error / low testing data accuracy. Low Variance: Low testing data error / high testing data accuracy.
Regularization: We can use L1 or L2 regularization to reduce variance in machine learning models. Ensemble methods: It will combine multiple models to improve generalization performance. Bagging, boosting, and stacking are common ensemble methods that can help reduce variance and improve generalization performance.
The error is the difference between predicted and observed value. Since we have a set of observations, we have a set of errors and therefore we can compute its variance. Furthermore, if observations are seen as a random variable, we can estimate its variance. That is error variance.
The variance is an error from sensitivity to small fluctuations in the training set. High variance may result from an algorithm modeling the random noise in the training data (overfitting).