Question - Explain the L2 and L1 Regularization techniques.
Answer -
L2 and L1 are the most common types of regularization. Regularization works on the premise that smaller weights lead to simpler models which result helps in avoiding overfitting. So to obtain a smaller weight matrix, these techniques add a ‘regularization term’ along with the loss to obtain the cost function. Here, Cost function = Loss + Regularization term However, the difference between L1 and L2 regularization techniques lies in the nature of this regularization term. In general, the addition of this regularization term causes the values of the weight matrices to reduce, leading to simpler models.