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Bias-Variance Tradeoff: A Fundamental Statistical Principle That Can Render You Love or Pain

When: 

Apr 1, 2019 - 12:50pm to 1:50pm

Where: 

Hermann Hall Ballroom

Speaker: 

Xiao-Li Meng
Department of Statistics, Harvard University

Description: 

Bias-Variance Tradeoff, also known as the efficiency-robustness tradeoff or relevance-robustness tradeoff, is a principle of “no free lunch” in statistical analysis. Lower random noise (variance) comes with higher systemic error (bias), and vice versa. Through a painful story and a lovely one, I illustrate how the Tradeoff is a principle not just for statistics, but also for life.

Event Type: 

Department of Applied Mathematics - Other