Briefly describe what is the difference between lasso and ridge as regularization techniques.

QUESTION 2 Not yet answered Marked out of 20.00 F Flag question In a study on the performance of electrical engines, observational data was collected on explanatory variables: temperature, intensity, resistance, capacitance, impedance, inductance; the variable power was the response variable. Lasso and ridge regression analyses were carried out using centered data, and the following plots of lasso path and ridge trace were produced. Lasso Ridge inductance inductance temperature temperature O O resistance resistance beta intensity beta intensity -1 capacitance capacitance -3 impedance impedance 0.0 2 0.4 0.6 0.8 1.0 0 2 3 4 5 6 [beta|/max|betal of(2) Lasso Ridge inductance inductance V temperature temperature O resistance resistance beta intensity beta intensity -1 capacitance capacitance -3 impedance mpedance 0.0 0.2 0.4 0.6 0.8 1.0 2 3 4 5 6 [beta|/max|betal df (2) Briefly describe what is the difference between lasso and ridge as regularization techniques