0425. Given the standard number of bits allocated to the mantissa (24), what level of precision can we get and why?

We know that 2²⁴ = 16,777,216 (meaning we could represent the values from 0…16,777,215). There are 8 digits in this value, HOWEVER, we can not represent all 8-digit numbers (we could not, for example, represent the number 76,879,403).

Therefore, we can get 7 decimals of precision with 24-bits allocated to the mantissa.