5) What are the characteristics of the following graphics file formats

Bitmap:
A representation, consisting of rows and columns of dots, of a graphics image in computer memory. The value of each dot (whether it is filled in or not) is stored in one or more bits of data. The resolution of bitmap images, such as digital photographs, depends on both the display device and the inherent resolution of the bitmap image.
http://webopedia.internet.com/TERM/B/bit_map.html

GIF?
Known as Graphic Interchange Format. The majority of images on the Web are now in GIF format, and virtually all Web browsers that support graphics can display GIF files. GIF files incorporate a compression scheme to keep file sizes at a minimum, and they are limited to 8-bit (256 or fewer colors) color palettes.
http://webstyleguide.com/graphics/gifs.html

PNG?
A format for graphics that is useful primarily on the World Wide Web. PNG graphics can contain millions of colors and can be transparent, and are compressed without degradation of the image. However, many Web browsers can not display them. It supports alpha channels and has a and 48 bit true color (as compared to GIF's 8 bit color).
www.caddpower.com/cms/glossary

JPEG?
Joint Photographic Experts Group is also used to minimise graphics size, using compression, it is a file format used for good quality photographic reproduction on the Web. JPEG graphics are capable of reproducing a full range of color while still remaining small enough for Web use. Most of the photographs you see on the Web are JPEG format.
www.sorrentomesa.com/education/glossary.html

XCF?
A GIMP image file format that is unsupported by web browsers. It can save layer information and other information that you may want to use again, e.g. text layer.

PSD?
The suffix or extension used to by Adobe for files created using Adobe Photoshop software. Applications other than Photoshop may also be able to save or open files in this file format.
www.caddpower.com/cms/glossary

SVG?
An XML markup language for describing two-dimensional vector graphics, both static and animated. Can be used both by Web browsers and desktop publishing to produce vector graphics which are very fast and easily transmittable files.