FIle Formats

1. I have used JPEG
2. Rastor images data describes the characteristics of each individual pixels and vector formats contain a geometric description which can be rendered smoothly at an desired display size.

JPEG
1. lossy
2. small pictures and on screens
3. yes

TIFF
1. lossless
2. working format for editing digital images
3. some can, some can't

PSD
1. either lossy or lossless
2. photoshop
3. no

DNG
1. lossless
2. printing large and better quality images
3. yes