A calculation is a deliberate process for transforming one or more inputs into one or more inputs into one or more results. The term is used in a variety of senses, from the very definite arithmetical calculation 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. Statistical estimations of the likely election results from opinion polls also involve algorithmic calculations, but give results that are ranges