The formula V = \frac43 \pi r^3 calculates the volume of a sphere. In this equation, V represents the volume, r is the radius of the sphere, and \pi (approximately 3.14) is a mathematical constant. The radius is the distance from the center of the sphere to its surface. To use this formula, you first measure the radius of the sphere. Then, you cube the radius (multiply it by itself twice), multiply that result by \pi , and finally multiply by \frac43 . This gives you the total space inside the sphere, which is useful in various fields like geometry and engineering.