A "managed" dedicated server refers to the level of serviceyou receive. A managed service means that your server will be operated by the company you bought it from. The level of this management depends on the company and they usually charge more for the more responsibilities they cover.
What Does This Management Include and Cost?
This would include things like keeping the operating system up to date, helping you with any problems you have, reconfiguring the software, and other server admin related activities. If you are new to hosting and need help running a server it is far better to get a managed server since the hosting company will take care of everything. Managed servers are more expensive than unmanaged servers for the obvious reason.
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