Hi Doug,
I'm no expert, but the bottom number tells you which note gets 1 beat. So if the the bottom note is a 4, the quarter note is 1 beat. If it is an 8, it's the eighth note that is one beat, etc. The timing of the other notes is then based on this. For example if it the eighth note is one beat, a quarter note would be 2 beats in this case, etc.
Hope this helps.
Nutty
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