Define \(x = 3.\overline{783}\) and calculate as follows:
\begin{align}
1000x &= 3783.\overline{783},
1000x - x &= 3783.\overline{783} - 3.\overline{783},
999x &= 3780,
x &= \frac{3780}{999} = \frac{140}{37}.
\end{align}
Convert \(\frac{140}{37}\) to a mixed number:
\[
x = 3\frac{29}{37}.
\]
This value matches Option 3.