16. Bill's $\frac{3}{8}$ inch drill bit is missing and is needed for a job. He can get by with drilling a smaller hole than $\frac{3}{8}$ inch as long as it is as close to $\frac{3}{8}$ inch as possible. Which of the following bits would be the best to use? $\frac{1}{2}$ $\frac{13}{32}$ $\frac{5}{16}$ $\frac{23}{64}$

Step 1 ：We need to find the drill bit size that is closest to \(\frac{3}{8}\) inch. We can do this by calculating the absolute difference between \(\frac{3}{8}\) inch and each of the given drill bit sizes. The drill bit size with the smallest difference is the one that is closest to \(\frac{3}{8}\) inch.

Step 2 ：Given drill bit sizes are \(\frac{1}{2}\), \(\frac{13}{32}\), \(\frac{5}{16}\), and \(\frac{23}{64}\).

Step 3 ：Calculate the absolute difference between \(\frac{3}{8}\) inch and each of the given drill bit sizes.

Step 4 ：The differences are 0.125, 0.03125, 0.0625, and 0.015625 respectively.

Step 5 ：The smallest difference is 0.015625.

Step 6 ：The drill bit size with the smallest difference is \(\frac{23}{64}\) inch.

Step 7 ：\(\boxed{\text{Final Answer: The best drill bit to use would be }\frac{23}{64}\text{ inch.}}\)