Explain the bias-variance trade-off.
What to Listen For:
- Clear articulation of the balance between model complexity and generalization ability, demonstrating understanding of underfitting and overfitting
- Practical examples of techniques to address high bias (adding features, increasing model complexity) and high variance (regularization, more data, cross-validation)
- Ability to connect the concept to real-world model performance and diagnostic strategies for identifying whether a model suffers from high bias or variance