To determine the cost function using this method, an analyst plots points on a scatter diagram, examines the diagram and estimates a line of best fit for the points.

A study of daily newspaper cost behavior is used to illustrate a method of estimating cost function parameters using cross-section output and price data only. The cost parameter estimates are obtained ...

Confused about cost functions in neural networks? In this video, we break down what cost functions are, why they matter, and which types are best for different applications—from classification ...