as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the concept of binary search.
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binary search is a type of search algorithm used to locate a target item in an ordered list. it works by repeatedly splitting the list in half, examining the middle item to determine whether the target is greater than, less than, or equal to it. if the target is found, the algorithm immediately returns the index of the item. if it isn't, the list is split in half, with one half discarded based on the comparison. the process is repeated until the target item is found or the list is completely searched.
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