Place value is a concept in mathematics that dictates the value of a digit based on its position in a number. In our number system, known as the base-10 system, each digit's value is determined by its position relative to the decimal point. The place values to the left of the decimal point increase from right to left, with each position representing a power of 10. The place values to the right of the decimal point decrease from left to right, with each position representing a negative power of 10. For example, in the number 456.78, the digit 4 is in the hundreds place, the digit 5 is in the tens place, the digit 6 is in the ones place, the digit 7 is in the tenths place, and the digit 8 is in the hundredths place.
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