The bars represent about 1 gallon. There are ten bars and the tank holds 12.2 gallons, logically this would mean each bar is 1.22 gallons... but the fact is when the last bar turns off there is still almost 2 gallons remaining in the tank. But as if that wasn't enough, I have also seen the bar go backwards, from one bar to two, from no bars back to one bar, and even from no bars all the way up to two bars. No rhyme or reason to it, either.
Get an Ultragauge or equivalent, the gas remaining shows a precise amount even when you are completely out of bars (and there's a big difference between really out of gas and two gallons remaining, when you're getting 40 mpg, that's 80 miles!)
Or just live with the fact that the stock gauge is no more than a vague hint, and if you run out of bars you'd better go get some gas quick just in case... even though that means you are now driving a car with a virtual ten gallon tank.