Given two algorithms:

Algorithm $x$ that processes each element of a dataset once and has a time complexity of $O(N).$

Algorithm $Y$ that processes half the dataset but has a time complexity of $O(N^2).$

Which of the following statements is correct?

Algorithm X$\text{'}$s execution time will double with each added data point.

The execution times of both algorithms will be roughly the same for large datasets.

Despite processing only half the dataset, Algorithm $Y$ will still be slower than Algorithm $x$ for sufficiently large datasets.

Algorithm $Y$ will always be faster since it processes fewer data.