Which smaller than the other, MP3 or WAV ?

MP3 is smaller, much smaller than the original wav files used in recording sessions

yes, mp3 is much smaller than wav and the quality loss is small enough that you will not notice at all if you use 128 bit the smaller compressions will be slitely less in quallity but it is the best way to store music by far.

MP3 is smaller than WAV for two reasons: 1) WAV files are uncompressed 2) MP3 files are both compressed and 'lossy', meaning that some information is discarded during the compression process. This information cannot be recovered.

Hmm..

You can't say one is smaller than the other. But since .mp3 files are compressed, i.e some information is removed they will have more slim file sizes. It will depend upon the compression you use.

So, we can say an .mp3 file is generally smaller.