Reducing sample bit-depth by truncating

Question

I have to reduce the bit-depth of a digital audio signal from 24 to 16 bit.

Taking only the 16 most significant bits (i.e. truncating) of each sample is equivalent to doing a proportional calculation (out = in * 0xFFFF / 0xFFFFFF)?

Answer 1

I assume you mean (in * 0xFFFF) / 0xFFFFFF, in which case, yes.