Finding the value of the infinite product $\prod\limits_{n=1}^{\infty} \biggl(1-\frac{1}{2^{n}}\biggr)$

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The math teacher of a friend of mine gave him this question on a test. He then asked me if I could solve it, but I had no idea how to begin. It goes like this.

Find the value of the following infinite product: $$\prod\limits_{n=1}^{\infty} \biggl(1-\frac{1}{2^{n}}\biggr)$$

It does indeed converge, but how does does one calculate the value? I did plug it into WolframAlpha, and the answer is about 0.288.