Floating-point representation is a method used in computers to represent real numbers, allowing for a wide range of values. It breaks down a number into three parts: the sign (indicating positive or negative), the exponent (which scales the number), and the significand (or mantissa, which contains the significant digits). This format enables computers to handle very large or very small numbers efficiently. In IEEE 754, a common standard for floating-point representation, numbers are typically stored in 32 bits (single precision) or 64 bits (double precision). This structure allows for a balance between range and precision, making it suitable for various applications, from scientific calculations to graphics processing.