Correct option is A
Statement I: The standard deviation of a series of repeated measurements indeed estimates the likely size of the chance error in a single measurement. Standard deviation measures the dispersion or spread of the measurements around the mean, which helps in understanding the extent of variability due to random errors.
Statement II: Bias affects all measurements in the same way, pushing them in the same direction. Bias is a systematic error that consistently skews all measurements in a particular direction, either higher or lower than the true value.
(a) Both Statement I and Statement II are true.