Dedicated server hosting generally refer to renting a whole complete server solely for your own use, no one else will be sharing the server resources and you have full control over the server. In most dedicated hosting services, you are expected to manage the server on your own, dedicated hosting provider will generally have a list of support services that require a fee to be charged if you need such service from the provider, responsibility of a dedicated hosting provider is to provide a functioning server hardware and maintain the network connections, software issues in your rented server is expected to be maintain on your own.
You will need to have advance level of server management skill to handle a dedicated server. Web hosting provider will be replace faulty server hardware for your rented server at their expenses in case of hardware failure.
Hosting fee is much higher than a shared hosting or VPS hosting, and there are different rates depend on the type of server specification you are renting, type of software installed (i.e. windows, Linux etc.) as certain software requires license fee (i.e. windows, coldfusion etc.) and hosting fee for this type of server is generally higher than those with open source software (i.e Linux, PHP, MySQL etc.).