Normalized - most common case. Occurs when E doesn't equal 0 or 255.
Denormalized - occurs when E is 0000 0000. Used to represent 0, and numbers very close to 0.
Special Values - when E is 1111 1111 and F is all 0's, the representation is infinity. When E is 1111 1111 and F is not all 0's, then the representation is NaN.
