$s=0; \: k=3; \:$ and $n=4$
$\text{bias} = 2^{k-1} -1 = 4-1=3$
$\text{exp} = 000$
$\text{frac} = 1111$
$M= frac \times 2^{-n} =.1111$
$E=1-\text{Bias}=1-3=-2$
$V=(-1)^s \times M \times 2^E = 1 \times .1111 \times 2^{-2} = (.001111)_2 = \frac{8+4+2+1}{64} = \frac{15}{64}$