Anxiety can often make these related conditions worse, so talk with a mental health care professional if anxiety begins to interfere on a daily basis.
In probability theory and statistics, the variance of a random variable is a measure of its statistical dispersion, indicating how far from the expected value its values typically are. The variance of a real-valued random variable is its second central moment, and it also happens to be its second cumulant.
The variance term is a function of the irreducible error and k with the variance error steadily falling as k increases. The bias term is a function of how rough the model space is (e.g. how quickly in reality do values change as we move through the space of different wealths and religiosities).