A formula is an equation or set of calculations that takes a number (or numbers) as input, and produces an output. The output is often a number, but it could also be a decision such as yes or no. The ...A formula is an equation or set of calculations that takes a number (or numbers) as input, and produces an output. The output is often a number, but it could also be a decision such as yes or no. The numbers in a formula are usually represented with letters of the alphabet, which are called variables because their values can vary. To evaluate a formula, we substitute a number (or numbers) into the formula and then perform the steps using the order of operations.