How does map size and DPI affect the physical file size when saving maps to raster

Products Affected: MapInfo Pro 
When creating raster images from map windows or layout windows in MapInfo Pro™ what determines the physical file size?

Exported images grow geometrically in size depending on how much resolution is required and the format chosen for export. If an image is doubled in size then it has quadruple the number of pixels required.

Example: If a user saves an image that is 6.96 inches wide by 5 inches high to BMP format at 1200 dpi: The # of pixels = Image (X or Y dimension) * Image resolution
6.96 inches @ 1200 dpi = 8352 pixels and 5 inches @ 1200 dpi = 6003 pixels. Multiply both Pixel results together, then multiply that result by the bit depth factor of the screen
(8352) * (6003) * 3 to get a ~150 MB image size.

Different formats yield different file sizes (e.g. JPEG is compressed so will be a bit smaller, and therefore users may notice a slight drop in quality in comparison to PNG format).
UPDATED:  September 6, 2017