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A. Both formats are readable on all of the major operating systems and by most software. TIFF files are much larger than JPEG files, but preserve all of the image data; you should choose this format for maximum quality and if you plan to do any further editing of the images. Because of their larger size, they will require significantly more CDs/DVDs to hold all the images.
JPEGS are smaller but you lose some of the image data, it is a 'lossy' format. JPEG files use a special algorithm to compress the data resulting in a much smaller file size for a given image. Choose this format if you do not plan to do any further editing and just want to be able to view and print you images. The JPEG format is known as a 'lossy' format because each time the image is saved some of the original image data is lost or thrown away. Thus repeated opening and re-saving of the file will result in gradual image degradation.
For comparison a 24 bit colour 4000 dpi scan of a test slide had a file size of 59.4Mb when saved in TIFF format and 3.2Mb when saved as JPEG format.