Question to DV picture expert.

After editing my picture per dv standars everything looks fine.  When I check the Properties I see the following:
Size: 100KB
dimension: 600x600
Bit dept: 24
Color representation: sRGB
Compressed bits/pixel: 8

Is my picture okay per dv standars.  I noticed that on the instruction page they require 24 bits per pixel and 8-bit images will NOT be accepated.  Is Bit dept same as bits per pixal and what is 8 compressed bits/pixel on picture properties means?

Thanks.