Lossy Vs Lossless

1A)Shooting in raw gives you more control over the way you get the image to look.
 B)You can correct mess-ups like exposure
 C)Better image quality
2 A) Cant print immediately
3 A) You can shoot  more shots in burst
   B) Immediatley ready for printing
   C) High contrast
4 A) Low dynamic range


1) All the data
2) White balance, contrast, saturation, image quality and stuff.
3) raw files take up more space can't shoot as much. raw files can convert to jpeg not other way around!
4) Because it gives you more control and if you want to have more control and better quality you shoot in raw. plus you should learn both.