Here is the dictionary of terms from the transcript:

Bias: The inability for a machine learning method to capture the true relationship.
Example: "because the straight line can't be curved like the true relationship it
has a relatively large amount of bias".

Variance: The difference in fits between data sets in machine learning. Example:
"the difference in fits between data sets is called variance".

Overfit: When a model fits the training set very well but not the testing set.
Example: "because the squiggly line fits the training set really well but not the
testing set we say that the squiggly line is overfit".

Training set: The data used to train the machine learning algorithms. Example: "The
blue dots are the training set".

Testing set: The data used to test the trained machine learning algorithms.
Example: "The green dots are the testing set".

Linear regression: A machine learning algorithm that fits a straight line to the
training data. Example: "The first machine learning algorithm that we will use is
linear regression aka least squares linear regression it's a straight line to the
training set".

True relationship: The actual relationship between the input and output data.
Example: "However, I'll leave the true relationship curve in the figure for
reference".

Sums of squares: Measuring the distances from the fit lines to the data, squaring
them and adding them up. Example: "we measure the distances from the fit lines to
the data square them and add them up".

Simple model: A model with low complexity that cannot capture complex relationships
well. Example: "finding the sweet spot between a simple model and a complex model".

Complex model: A model with high complexity that can capture complex relationships
but might overfit. Example: "finding the sweet spot between a simple model and a
complex model".

Regularization: One of the techniques used to find the sweet spot between simple
and complex models. Example: "3 commonly used methods for finding the sweet spot
between simple and complicated models are regularization boosting and bagging".

Boosting: One of the techniques used to find the sweet spot between simple and
complex models. Example: "3 commonly used methods for finding the sweet spot
between simple and complicated models are regularization boosting and bagging".

Bagging: One of the techniques used to find the sweet spot between simple and
complex models. Example: "The stat quest on a random forest show an example of
bagging in action".