You are correct. When we represent a number as the sum of a set of multiples of powers of a base number, each coefficient tells how many times that particular power of the base is to be added in to make up the desired number. Our example here,
4(103) + 8(102) + 2(101) + 1(100)
says “Add 4 times 103, 8 times 102, 2 times 101, and 1 times 100.”
