cost function
nounUK /ˈkɒst ˌfʌŋkʃən/
US /ˈkɔst ˌfʌŋkʃən/
A cost function is a math rule that tells you how wrong a guess is.
The computer used a cost function to see how far its answers were from the right ones.
OTHER MEANINGS
2. In economics, a cost function shows how total cost changes as the amount produced changes.
The firm's cost function rose steeply when production doubled.
3. In business, a cost function is a formula that estimates expenses for planning and budgeting.
Managers used a cost function to predict next year's shipping expenses.
4. In mathematics, a cost function is any function you want to make as small as possible.
We minimized the cost function to find the cheapest route.