SQL Backup query

WeTi
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Dear expert

Need help with explain this sql backup query:

BACKUP DATABASE [MIR_Prod] TO  DISK = N'\\sqlp01\F$\SQLBackup\Prod.bak' WITH  COPY_ONLY, NOFORMAT, NOINIT,  NAME = N'SQL-Full Database Backup', SKIP, NOREWIND, NOUNLOAD, COMPRESSION,  STATS = 10;

What this means:
NOFORMAT, NOINIT,  NAME = N'SQL-Full Database Backup', SKIP, NOREWIND, NOUNLOAD, COMPRESSION,  STATS = 10;
I think those are the options of backups in MSSQL studio, i need to know what they do. And what is the STATS = 10? Also Can I choose my own NAME =...? Like now its SQL-Full Database Backup' may I change it to other name? What is the impact of it?

Thanks
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