The MSB has a value of half the output maximum and each lower bit has a value that is half of its next highest bit.
The Least and Most Significant Bits (LSB and MSB) are just what their names imply: those bits that have the least weight (LSB) and most weight (MSB) in a digital word.
For an n-bit word, the MSB has a weight of 2(n-1) = 2n / 2 where "n" is the total number of bits in the digital input word.
The value of the MSB is 1/2 of full-scale.
The LSB has a weight of 1.
The value of the LSB is G x VREF / 2n.
Higher resolution neans a smaller LSB size, while a higher reference voltage means a larger LSB size.