What does the term "5 prime and 3 prime" refer to in molecular biology?

In molecular Biology, the terms "5 prime" and "3 prime" refer to the specific ends of a DNA or RNA strand. The 5 prime end is where the phosphate group is located, while the 3 prime end is where the hydroxyl group is located. These ends are important for determining the directionality of the nucleic acid strand during processes like transcription and translation.