An algorithm's data representation needs may be addressed by the use of an unsigned $7\mathrm{.}4($bit$)$

fixed$-$point representation. To verify this, please answer the following questions.

$[2$ marks$]$ What is the minimum value $($in decimal$)$ that can be held in this data format?

$[2$ marks$]$ What is the maximum value $($in decimal$)$ that can be held in this data format?