An automobile insurer has found which repair claims have mean of $1520 and standard deviation of $770. Assume that the next 100 claims can be regarded as random sample from the long-run claims process.
The mean and standard deviation of the average x of the next 100 claims is
A. mean = $152 and standard deviation = $77.
B. mean = $1520 and standard deviation = $77.
C. mean = $1520 and standard deviation = $7.70.
D. mean = $152 and standard deviation = $770.