I have a naive question regarding to floating point number’s machine epsilon.
As we know, a double floating point number has a machine epsilon around 10^-16, while the minimal, strictly positive value of a floating point number can be as small as 10^{-300}. Since the machine epsilon is the upper bound of the relative error, what is the sense of using this number 10^{-300} which is much smaller than the machine epsilon?
I must have misunderstood something about floating-point representation. Could you clarify?