Part I: When looking at the business cycle of the last fifty plus years, we find there have been eight periods of recession. For each recession, the month in which it began (Peak Month), the month in which it ended (Trough Month) and its length in months are presented in the table below: Answer the following: 1. The first thing we want to do is to make some general observations about the frequency and length of recessions. First, calculate the average length of all eight recessions, only the first four recessions and then only the last four recessions. Report your numeric findings and comment on them. What has happened to the average length of recessions over time? 2. Next, we want to determine what has happened to unemployment in each recession. Look at the graph of the unemployment rate below and answer the following: First, what approximately, is the maximum unemployment rate that is reached during each recession? Second, approximately how long does it take for the unemployment rate to return to its pre-recession level after each recession? Are there some recessions for which it never returns to its pre-recession level and if so, which ones? Present your answers for this part in a well-organized table