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Fast estimation of processor performance can easily lead to large savings in time which would otherwise be spent in long time consuming execution on an instruction set simulator. The estimation of standard library functions are made difficult by the fact that standard libraries are sometimes delivered as binary files, which makes use of an instruction set simulator, the only option for performance estimation. In this paper, we present an estimation methodology which does not require execution of an application on an instruction set simulator. We use simple mathematical model of performance of standard library function which relates the number of instruction executed to the size/number of arguments passed.