Apart from the naming convention issue which other answers have correctly pointed out, you're basically fine: calling a class is indeed by far the most common way of instantiating that class. If you need any per-instance initialization (most typically setting some instance-attributes to initial values), be sure to define an __init__ method that performs it:
class Calculations(object):
def __init__(self):
self.running_total = 0 # or w/ever
def calculate(self):
...
calc = Calculations()
The other, rare ways of instantiating a class typically occur when you want to bypass the initialization part for some reason (e.g., in the course of de-serializing an instance from some file, database, or communication from other processes -- the pickle module is a good example of needing such advanced approaches). I don't think you should worry about them at all at this stage of your Python learning experience.