The hardware has it's own compression routine aside from what you chose in your software settings. The Tape manufacturers just give an average compression rate. If you are backing items like exe, dll, edb files they are already compressed so you will get almost no compression. If you are backing up office documents and other types of files they can compress up to 95% in some cases which would allow you to squeeze 5+ tb onto a tape (extreme but possible).
Jim Watt