Fix Google Page Speed Insights Suggestions?

Comment on Google PageSpeed Insights Results by Susanne.

I am not a webmaster but an familiar with how to install themes and work with widgets and media etc. I have a couple of questions as follows.

1. – By installing the Stallion Responsive theme on my site; does this automatically take care of any issues the Google Page Speed Insights tool found on my site?

2. – Are my images automatically compressed to the correct size to allow for mobile viewing?

3. – What about leveraging browser cashing – is this automatically taken care of via the settings?

Thanks for such a great theme.
Susanne