In a case where both overfitting and underfitting are concerns depending on the chosen algorithm, how would you systematically approach model selection and tuning?

  • Increase model complexity
  • Reduce model complexity
  • Use L1 regularization
  • Use grid search with cross-validation
Systematic approach involves the use of techniques like grid search with cross-validation to explore different hyperparameters and model complexities. This ensures that the selected model neither overfits nor underfits the data and generalizes well to unseen data.
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