Mainly talking about 32 bit floats, I will try to explain how I understand it and I would appreciate
if someone told me **if I understand it correctly **(bold to emphasise the actual question)
the first bit(fb) is the sign, 0 = positive and 1 equals negative. ( (-1)^fb)
the next 8 bits(exp) are the exponent, which is an 8 bit number, but the actual exponent of the value is the 8 bit number - 2^(exp length-1)=> 8 bit number-2^7( (-1)^fb * 2^exp)
the last 23 bits(mn) are the mantissa, which is like the base of a number in scientific notation(what a float basically is). The first number of the base, so like 1 in 1.23, is implied, because it will always be 1, because in binary the only other value it can take is 0, but if it was 0, the exponent would be +1 bigger and the mantissa(for example) would be 0.1234.. instead of 1.234, resulting in loss of accuracy or 1 more bit used. So the base is 1.(mn digits) . so for example, the mantissa 11000..(everything else 0) would be 2^-1 + 2^-2, so 0.5+0.25=0.75 in decimal.
So converting the number from binary to decimal floating point would be (-1)^fb * 2^exp * base (mantissa converted to decimal, in the way I explained)