Context: MPEG-1 or MPEG-2 Audio Layer III, more commonly referred to as MP3, is an audio coding format for digital audio which uses a form of lossy data compression. It is a common audio format for consumer audio streaming or storage, as well as a de facto standard of digital audio compression for the transfer and playback of music on most digital audio players.

Question: What is the common name for MPEG-2 Audio Layer III?
Answer: MP3

Question: What kind of audio is the coding format for?
Answer: digital

Question: Other than storage, what is the common audio format used for?
Answer: consumer audio streaming

Question: What does MP3 use to format it's data?
Answer: lossy data compression

Question: Where will MP3 files most commonly be found?
Answer: digital audio players