You can view and edit parameters for regions, tracks, and other items in the various inspectors. The parameters displayed depend on the type of item selected, and which working area has key focus. When you’re working in the Tracks area, the inspector displays region and track parameters and the inspector channel strips, as shown below:
Region inspector: View and edit playback parameters, including transposition and quantization, for selected regions. Region parameters affect the playback of regions, but don’t alter the data in the region itself. If you change region parameters while the project is playing, you hear the changes immediately.
Track inspector: View and edit various track parameters, including transposition, velocity, and delay. All regions on the track are affected by the track parameters.
Inspector channel strips: The left channel strip is the channel strip for the selected track. The right channel strip shows the output for the left channel strip by default, but can also show an aux used by the left channel strip (if one exists). You can adjust the level, pan, sends, and inserts, change effects, and control audio routing for these channel strips without opening the Mixer.
Inspectors for other working areas, such as the Event inspector, Display Parameters inspector, and Score inspector are described in their respective chapters.
Do one of the following:
Click the Inspector button 
in the control bar.
Choose View > Show Inspector (or press I).
Press Option-R.