Dumb migration question

Hi,

So this is a bit embarrassing, but I've been working through the depot
tutorial in Agile Web Development. In the add_column migration, there
is:

add_column :products, :price, :decimal, :precision =>
8, :scale=>2, :default=>0

I'm assuming that precision means the number of significant digits,
no? Could someone clarify what those three parameters after decimal
mean?

Thanks,

Ron

Oops...sorry. I figured it out. precision is number of significant
digits and scale just says that two are after the decimal point.

R