MP3 Development 5

All algorithms were approved in 1991 and finalized in 1992 as part of MPEG-1, the first standard suite by MPEG, which resulted in the international standard ISO/IEC 11172-3, published in 1993. Further work on MPEG audio was finalized in 1994 as part of the second suite of MPEG standards, MPEG-2, more formally known as international standard ISO/IEC 13818-3, originally published in 1995.
Compression efficiency of encoders is typically defined by the bit rate, because compression ratio depends on the bit depth and sampling rate of the input signal. Nevertheless, compression ratios are often published. They may use the CD parameters as references (44.1 kHz, 2 channels at 16 bits per channel or 2×16 bit), or sometimes the Digital Audio Tape (DAT) SP parameters (48 kHz, 2×16 bit). Compression ratios with this latter reference are higher, which demonstrates the problem with use of the term compression ratio for lossy encoders.
Karlheinz Brandenburg used a CD recording of Suzanne Vega's song "Tom's Diner" to assess the MP3 compression algorithm. This song was chosen because of its nearly monophonic nature and wide spectral content, making it easier to hear imperfections in the compression format during playbacks. Some jokingly refer to Suzanne Vega as "The mother of MP3". Some more critical audio excerpts (glockenspiel, triangle, accordion, etc.) were taken from the EBU V3/SQAM reference compact disc and have been used by professional sound engineers to assess the subjective quality of the MPEG Audio formats. It is important to understand that Suzanne Vega is recorded in an interesting fashion that results in substantial difficulties that arise due to Binaural Masking Level Depression (BMLD).
Reference : http://en.wikipedia.org/wiki/Mp3