Final answer:
The JPEG file format has medium quality and a small file size due to its lossy compression method, which enables efficient storage and sharing by reducing file size while retaining acceptable image quality.
Step-by-step explanation:
The file format described as having medium quality, small file size, and is considered to be lossy is the JPEG format. JPEG stands for Joint Photographic Experts Group, which is the most common format for digital photos. JPEGs are widely used because they can display millions of colors, making them ideal for photographs, and they are compressed to create smaller image files which still look good, so you can save space while retaining a decent level of image quality.
The two main reasons the JPEG format is often used for digital photos are:
- Ability to display millions of colors, which is perfect for detailed and colorful digital photographs.
- Compression capability, allowing for smaller file sizes without drastically compromising image quality. This enables more efficient storage and sharing of images.