Play MKV videos on iPad Mini?

I had downloaded some funny mkv videos and want to play them with my iPad Mini. When I import my .mkv videos, it seems ipad mini can't accept mkv format. My friends suggest me try to use macx video converter pro to convert mkv to mp4 or mov to play on ipad mini. When using the software, I found I could also adjust the video and audio settings to get more better video quality, like frame rate, bit rate, aspect ratio, resolution, audio codec, sample rate, etc. but I’m totally confused about these parameters since I do not know which audio and video parameters fit my ipad best. Help.

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