I have this example on how to convert from a base 10 number to IEEE 754 float representation
Number: 45.25 (base 10) = 101101.01 (base 2) Sign: 0
Normalized
Simple place value. In base 10, you have these places:
... 103 102 101 100 . 10-1 10-2 10-3 ...
... thousands, hundreds, tens, ones . tenths, hundredths, thousandths ...
Similarly, in binary (base 2) you have:
... 23 22 21 20 . 2-1 2-2 2-3 ...
... eights, fours, twos, ones . halves, quarters, eighths ...
So the second place after the . in binary is units of 2-2, well known to you as units of 1/4 (or alternately, 0.25).