Repeat: The factor 78 is chosen such that exposure settings based on a standard light meter and an 18-percent reflective surface will result in an image with a grey level of 18%/√2 = 12.7% of saturation.
The factor 78 is chosen such that exposure settings based on a standard light meter and an 18-percent reflective surface will result in an image with a grey level of 18%/√2 = 12.7% of saturation.