Exploratory Data Analysis (EDA) Revision IN SHORT

Hypothesis are trained models and Space means possibilities. So hypothesis space means a set of possible models for the given training dataset. It defines all possible parameters that the cost function (model) can assume. The cost function measures the performance of a machine-learning model. The purpose of the function is to either minimise the cost (regression-based models/error minimising models) or maximise the cost (reward-based model).