What are the characteristics of the following file formats:

Bitmap: An image format that only defines an image in terms of black and white.

GIF: Graphics Interchange Format, is a compressed graphic file normally used for images that do not require too many colors (maximum 256).

PNG: PNG is a graphics format specifically designed for use on the World Wide Web. PNG enable compression of images without any loss of quality, including high-resolution images.

JPEG: 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.

PSD: the default proprietary file of Adobe Photoshop. It allows for Adobe Photoshop formatting, Layers, DropShadows, etc. and is compatible with a variety of Adobe software such as InDesign.

SVG: Scalable Vector Graphics is a vector graphics language written in XML. Using SVG, graphics can be coded directly into an XML document.

What is an alpha channel? How can this be useful in your coursework project?

An Alpha channel is an 8-bit colour channel which is used to specify the transparency of each pixel in an image. An alpha channel works like a sophisticated stencil, and is the digital equivalent of a matte.
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This will help us in our coursework as it can make backgrounds to images which we dont want, transparent which will make it easier to move selected parts of the image.

What does RGB have to do with graphics?

RGB stands for red, green, blue and is the color language of computers. RGB defines the colours of the picture by using contrast of each colour in each pixel. So RGB will determine the colour of your graphic.
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