IMAGE FORMATS Part 1 A) PEG is short for Joint Photographic Experts Group, and is the most popular among the image formats used on the web. JPEG files are very ‘lossy’, meaning so much information is lost from the original image when you save it in a JPEG file. GIF short for Graphics Interchange Format, is limited to the 8 bit palette with only 256 colors. GIF is still a popular image format on the internet because image size is relatively small compared to other image compression types. The BMP files are image files within the Microsoft Windows operating system. These files are large and uncompressed, but the images are rich in color, high in quality, simple and compatible in all Windows OS and programs. BMP files are also called raster or paint images. TIFF is a screenshot of how a TIFF image looks like–TIFF is not compatible for all systems; so to be sure, I uploaded a screenshot in JPEG of a TIFF image preview instead of uploading t