A study looked at the annual compensation for 800 CEOs, for which the true mean and standard deviation were (in thousands of dollars) 10,695.28 and 19,728.96, respectively. A simulation drew samples from this population and calculated the mean compensation for each sample. Which of the following statements is true about the distribution of these sample means?
1) The distribution of sample means will have a mean of 10,695.28
2) The distribution of sample means will have a standard deviation of 19,728.96
3) The distribution of sample means will be normally distributed
4) The distribution of sample means will have a larger standard deviation than the population