Explanation:
In IEEE single precision floating point representation, a floating point number is represented using 32 bits. The first bit is the sign bit, the next 8 bits represent the exponent, and the remaining 23 bits represent the fraction.

To convert the decimal value 0.5 to IEEE single precision floating point representation:

Step 1: Determine the sign bit
Since 0.5 is a positive number, the sign bit will be 0.

Step 2: Convert the fraction part to binary
The fraction part of 0.5 is 0.5. To convert it to binary, we can multiply by 2 repeatedly until the fractional part becomes 0. Here are the steps:

0.5 * 2 = 1.0 (integer part is 1, fraction part is 0)
0.0 * 2 = 0.0 (integer part is 0, fraction part is 0)
...

The binary representation of the fraction part is 0.1.

Step 3: Determine the exponent value
The exponent value is determined by the position of the most significant 1 digit in the binary representation of the fraction. In this case, the most significant 1 digit is at the first position after the decimal point. Therefore, the exponent value is -1.

Step 4: Normalize the fraction and adjust the exponent value
To normalize the fraction, we move the binary point to the right until there is only one digit before the decimal point. In this case, the normalized fraction is 1.0.

Since we moved the binary point to the right, we need to decrease the exponent value by the number of positions we moved. In this case, we moved one position to the right, so the adjusted exponent value is -1 - 1 = -2.

Step 5: Convert the exponent value to biased form
The biased form of the exponent is obtained by adding a bias value to the exponent value. The bias value for single precision floating point representation is 127. In this case, the biased exponent value is -2 + 127 = 125.

Step 6: Combine the sign bit, biased exponent, and fraction
The sign bit is 0, the biased exponent is 125 (in binary: 01111101), and the fraction is 1.0 (in binary: 1). Therefore, the IEEE single precision floating point representation of 0.5 is:

0 01111101 00000000000000000000000

This matches with option B, which states that the fraction bits are 00000000000000000000000 and the exponent value is -1.