System Setup : File Format, Bit Depth, and Sample Rate : Sample Rates
 
Sample Rates
44.1 kHz
Is the sample rate used for CDs and is used in most common music production environments.
48 kHz
Is the standard sample rate for film and video, and is commonly used in post-production environments. It is the sample rate used for DVDs.
88.2 kHz and 96 kHz
Each of these sample rates are twice the standard sample rates for CD audio and DVD audio respectively. Audio files recorded at higher sample rates take up more drive space, but provide higher resolution for time-based plug-in processing (which can help avoid aliasing). These options are only available if you are running Pro Tools | First with audio hardware that supports these sample rates.