shutter speed and frame rate questions(Cycles)

This might be an easy question to answer but if I’m trying to replicate the industry standard of 24 FPS with a shutter speed of 1/48 (twice the speed of the frame rate) Do I set set cycles motion blur at 0.5=shutter open for half of each frame?
To put it another way is the motion blur defaulted at 1:1 ratio of the frame rate?

I believe it is… so 0.5 should be 1/48th shutter speed… 1 would be 1/24th