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A calculation is a deliberate process for transforming one or more inputs into one or more results, with variable change. The term is used in a variety of senses, from the very definite arithmetical 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. Multiplying 7 by 8 is a simple algorithmic calculation. Estimating the fair price for financial instruments using the Black-Scholes model is a complex algorithmic calculation.
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