No, there's a binary point. A half an inch would be 0.1" in binary; a quarter inch would be 0.01". A value of 0.357" (decimal) would be 0.010110110110 in binary. The big five-o in decimal represents the difference between having a zero or a one in the first digit to the right of the binary point.
Wouldn’t .5 decimal be .101 binary? Sheesh...that makes my head hurt. :-) Where’s the LSB in a binary number with a “point”? I never thought about it to be honest. :-)