Calculation

A calculation is a deliberate process that transforms 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 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 complex algorithmic calculation.

Statistical estimations of the likely ...more