Each WAV file is saved with certain parameters.
The following is a typical example of such parameters ...

PCM, 44.1kHz, 16bit, stereo, 172 kbps

I know what the "44.1kHz" (sampling rate) means,
and what the "172kbps" (bitrate) means.

But what does the "16bit" refer to?

Is there a FAQ that explains these items?