Instruction: Explain how synthetic data can be used in the training and validation phases of ML model development, including benefits and drawbacks.
Context: This question probes the candidate's knowledge of using synthetic data in ML workflows, assessing their understanding of its impact on model performance and fairness.
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The way I'd explain it in an interview is this: Synthetic data can help when real data is scarce, privacy-constrained, or missing important edge cases. It is useful for stress testing, bootstrapping, and coverage expansion, especially when combined with real data...