Learn Italian: La stima è approvata dal supervisore. - The estimate is approved by the supervisor.

Yes, and it might even sound more natural if you want to emphasize the action of approving. In Italian, using venire for the passive voice stresses the action itself (the supervisor is approving it), while essere often describes the resulting state (the estimate is currently in an approved status).

Does the word stima have other meanings besides "estimate"?

Yes! While in a business or mathematical context it means an "estimate" or "appraisal", stima is also very commonly used to mean "esteem", "respect", or "admiration" for a person.

Why does the past participle end in -a (approvata)?

In passive sentences, the past participle acts like an adjective and must agree in gender and number with the subject. Because la stima is feminine and singular, the participle must be approvata.

Why do we use dal instead of just da for "by"?

In passive constructions, the person performing the action (the agent) is introduced by the preposition da. Since supervisore requires the definite article il, they combine into the articulated preposition dal (da + il).