Sizing the fan you actually buy

The calculator gives the airflow the room needs. The fan you buy has to deliver that airflow in your installation, which is not the same as its rating.

Why the fan should not run all the time

The airflow above is what you need at peak occupancy. Most rooms are at peak occupancy a small fraction of the time, and every hour the fan runs unnecessarily in an air-conditioned building costs you the energy to cool and dehumidify air nobody needed.

The duty-cycle figure is what proportion of the time this fan would run with the room completely full, under CO2 control with a 1,200 ppm on / 800 ppm off band. Be clear about what that number is and is not: it is the saving available even at peak load, and it is the smallest saving you will see. The larger one comes from all the hours the room is half full or empty, when a CO2 controller runs the fan briefly or not at all while a timer would run it flat out. How big that is depends entirely on your occupancy pattern — the reasoning, and a method for estimating it for your own building, is in demand-controlled ventilation.