Raw vs JPeg

We were assigned to compare and contrast the differences of Raw and JPeg photos. Looking  through the links given this is what I've learned. Raw photos include the following; raw requires special software to view. It is typically a proprietary format. Raw photos are uncompressed. Also has complete data from the camera sensor. They have a higher dynamic range,they're  lower in contrast,and not as sharp.These images are not suitable for printing directly from camera. On the other JPeg photos have the following qualities; the first is a standard format readable by any image program. It is fairly small in size,compressed,higher in contrast,and sharper. It is also immediately suitable for sharing,printing,and posting.There is no need of correction,and is able  to be manipulated. The only similarities i was able to find was both JPeg and Raw shooting both have at least 8 bits per color.