Goodness of fit pertains to how well a cost function predicts cost behavior.

Name: Goodness of fit pertains to how well a cost function predicts cost behavior.
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Goodness of fit pertains to how well a statistical model fits a set of observations. In the context of cost behavior, it would relate to how well a model explains the variability in costs, not to the prediction of cost behavior by a cost function itself.

Goodness of Fit Pertains to How Well a Cost Function