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MP3 is a compression and decoding standard. It is specifically the audio of a MPEG1 video standard, MPEG1 Layer 3, hence MP3 (It is most certainly NOT MPEG3)

MPEG2 is commonly used in DVDs and HDTV broadcasts.

MPEG4 is an improvement on MPEG2.

MPEG5 does not currently exist.

Because you probably mean MP3 as in an Audio Player or an iPod type device, then it depends on which device you are using - read the manual for your MP3 PLAYER. Don't call those types of devices MP3 because MP3 is not the name of a device, it is the name of an audio compression scheme. It should be noted that if a device is advertised as an MP3 player, it probably can't play MPEG4 or MPEG 2

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