1.) Raster formats:
      -JPEG and JPEG 2000
      - and briefly RAW

2.) Vector can be any dimension independent of file size and in Raster the data describes the characteristics of each individual pixel.

JPEG:                    TIFF:                                    PSD:                     DNG:
    -Lossy                   -Lossy and Lossless             -Lossless                    -Lossy and Lossless
    -Online publising  -Print product                        - editing in photoshop -Used in photo J
    -Yes                      -Yes                                      -Yes                             -No