A calculation is a deliberate process that transforms one or more inputs into one or more results. The term is used in a variety of senses, from the very definite arithmetical calculation of using an algorithm, to the vague heuristics of calculating a strategy in a competition, or calculating the chance of a successful relationship between two people. For example, multiplying 7 by 6 is a simple algorithmic calculation. Estimating the fair price for financial instruments using the Black–Scholes model is a more complex algorithmic calculation.
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