machine epsilon
The size of the smallest gap a floating-point format can represent right around the number 1 -- a direct measure of the format's own precision.
Machine epsilon, \varepsilon_{\text{mach}}, is the distance between 1 and the next representable floating-point number greater than 1; for a format with m mantissa bits, \varepsilon_{\text{mach}}=2^{-m}.
Examples
IEEE double precision has 52 mantissa bits, so \varepsilon_{\text{mach}}=2^{-52}\approx2.22\times10^{-16}.
See also
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