Notes on the Bias Variance trade-off and Ridge regression
Old Millfun, Shanghai, March 2026 Introduction It felt useful to revisit some of the basics of the Bias Variance trade-off and ridge regression covering: 1. The relationship between a model’s forecast errors and its bias and variance 2. The trade-off between bias and variance 3. Ridge regression 4. Example of the bias and variance trade-off The theory parts of these notes are based on Stanley H. Chan’s, ‘Introduction to Probability for Data Science’ and Wessel N. van Wieringen’s, ‘Lecture notes on ridge regression’ ...