Q. Suppose you have fitted a complex regression model on a dataset. Now, you are using Ridge regression with tuning parameter lambda to reduce its complexity. Choose the option(s) below which describes relationship of bias and variance with lambda.

• (A) in case of very large lambda; bias is low, variance is low
• (B) in case of very large lambda; bias is low, variance is high
• (C) in case of very large lambda; bias is high, variance is low
• (D) in case of very large lambda; bias is high, variance is high