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Firstly, IEEE is not a standard, it is an organisation (the Institute of Electrical and Electronics Engineers). The IEEE Standards Organisation is responsible for the standardisation activities of the IEEE. As such, there are many IEEE standards.

There are two official IEEE standards covering 32-bit binary values:

  • IEEE 754-1985 (single)
  • IEEE 754-2008 (binary32)

IEEE 754-2008 single-precision binary floating-point format: binary32

  • The high-order bit always denotes the sign (0 for positive, 1 for negative).
  • The next 8 bits denote the exponent. This can either be notated in twos-complement (-128 to +127) or 127-biased (0 to 255). IEEE 754-2008 (binary32) uses the 127-biased form.
  • The low-order 23 bits denote the normalised mantissa. There's actually 24 bits in the mantissa but the high-order bit is always 1 and can therefore be implied rather than stored.

The decimal precision that can be obtained from an IEEE 754-2008 (binary32) value is usually in the order of 6 to 9 digits of precision, depending on the implementation.

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