A NOR gate is modeled as a pull-up with parallel pull-down branches. Exact arithmetic here means exact results for the stated model inputs; measured inputs still carry uncertainty and significant-figure limits.
highlighted = computed this step
Both LOW inputs leave both branches open
With both inputs LOW, neither parallel pull-down branch conducts. The output is 5 volts.
LOW, LOW⇒Vout=5V
Either closed branch pulls low
Make one input HIGH. That one branch is enough to pull the output to 0 volts.