Fixed-point iteration is a mathematical method used to find approximate solutions to equations of the form $$x = g(x)$$, where the function $$g$$ transforms an input into a new output that ideally converges to a fixed point. This technique involves repeatedly applying the function $$g$$ to an initial guess and refining that guess with each iteration. Understanding fixed-point iteration is crucial for analyzing convergence rates and error bounds, which helps assess the reliability and efficiency of the method.
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