0.246
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A Thousand is above 0 and a thousandth is below 0 (after the decimal place)
If you break something up into a thousand equal parts, each one of those parts would be a thousandth. In a decimal, the thousandth place is four to the right of the decimal point.
You cannot write a decimal like that because 3 thousand isnt igger than 517 hundredth thousand
one-thousandth as a decimal = 0.001
0.01 is one hundredth. 0.001 is one thousandth.