When performing lossy audio encoding, such as creating an MP3 file, there is a trade-off between the amount of space used and the sound quality of the result. Typically, the creator is allowed to set a bit rate, which specifies how many kilobits the file may use per second of audio. The higher the bit rate, the larger the compressed file will be, and, generally, the closer it will sound to the original file.
A typical trade off when creating an MP3 file is between the amount of space used and what other factor? What would an example of lossy audio encoding be? Who gets to set the bit rate for an MP3 file? What does the bit rate of the file actually mean? If the bit rate is higher, the size of the compressed file will be what?