Given below are two statements: regarding the JPEG file (Joint Photographic Experts Group) :
Statement I: JPEG files use a lossy format file compression method.
Statement II: JPEG is used to store photographs as a reduced file size.
In light of the above statements, choose the correct answer from the options given below
1
Both Statement I and Statement II are true
2
Both Statement I and Statement II are false
3
Statement I is true but Statement II is false
4
Statement I is false but Statement II is true