Variances

Variances refer to the measure of how spread out a set of data is. In data science, variances are used to determine the variability of a dataset and how much the data points deviate from the mean. It is calculated by taking the average of the squared differences from the mean. Variances are important in statistical analysis as they help in understanding the distribution of data and in making predictions. In machine learning, variances are used to evaluate the performance of a model. A high variance indicates that the model is overfitting the data, while a low variance indicates that the model is underfitting the data.
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