How to compress and uncompress files and folders in Terminal in OSX 10.11

How to compress and uncompress files and folders in Terminal in OSX 10.11:

GZ:

To extract:

gunzip archivename.gz

DMG – OSX Only:

To create

hdiutil create -format UDZO -srcfolder folder_to_compress archive_name.dmg

To mount

hdiutil attach archive_name.dmg

To view

ls -lah /Volumes/archive_name/

To Eject

hdiutil eject /Volumes/archive_name/