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In machine learning, dealing with covariate imbalance is an important consideration. Can you explain some approaches or techniques that can be used to address covariate imbalance in a dataset? How do these approaches help in improving the performance of machine learning models?

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Interview question asked to Data Scientists interviewing at Tokopedia, Rackspace, LogMeIn and others: In machine learning, dealing with covariate imbalance is an important consideration. Can you explain some approaches or techniques that can be used to address covariate imbalance in a dataset? How do these approaches help in improving the performance of machine learning models?.