You people have no scientific spirit! Some of us simply want to know how things work. Not for any practical application, but simply for the sake of knowing. "L'art pour l'art", except with knowledge instead of art.
@Witchblade
Unfortunately I don't have an answer, but I might have a way to find the answer. Get yourself a character with 100 Heavy Armor skill. On PC the easiest way to do so would be using the console, like this:
player.setav heavyarmor 100
On the consoles it would probably take some more work, but a Fortify Skill spell might also be able to do the trick (you don't need the skill to be permanently at 100 after all).
Now find a few pieces of heavy armor that have a fractional base AR. For example a Steel Cuirass has a base AR of 11,25. And with 100 Heavy Armor skill all pieces of heavy armor should give you their base AR. So you equip the cuirass and check how high your AR is. If it's 11 you know the game rounded down.
Then you take a Steel Shield which has a base AR of 13,5. Equip it (unequip the cuirass first) and check whether your AR is 13 or 14. Finally, equip Steel Greaves (base AR 6,75) and check whether you have 6 or 7 AR. Or maybe you could start with the greaves and if they get rounded down you don't need to bother with the shield and cuirass.
Either way, that should show you how the game rounds numbers. My pseudo-educated guess is that it rounds down all fractions. In which case you'd need to suffer 15 Shock Damage in order for your 7% Resist Shock to reduce the damage by 1 and suffer 29 Shock Damage in order for it to reduce the damage by 2.