Iowa Unemployment. A professor at Iowa State has a dataset from an unknown year con- sisting of the unemployment rates for all 99 counties in the state of Iowa. The professor asks her students to conduct a statistical analysis of the data and reiterates that they may use any ap- proach they deem necessary. One of the students recalls that the Normal distribution is a widely used density within the world of statistics and decides to conduct the analysis assuming all 99 counties unemployment rates follow a Normal distribution with mean μ and standard deviation σ. Use the data found in Unemployment·jmp to answer the following questions regarding the students analytic approach. Unemployment rates are reported as a (proportion × 100) (a) Using the JMP file provided, what are the values of μ and σ for this Normal model? ·Record the value for μ. (Round your answer to 2 decimal places ii. Record the value for σ. (Round your answer to 2 decimal places) (b) Assume the unemployment rates take on a Normal distribution with mean 4.0 and standard deviation 2.6. Find the probability a county has an unemployment rate greater than 8.108 (c) Again, assume the unemployment rates take on a Normal distribution with mean 4.0 and standard deviation 2.6. What is the unemployment rate such that only 5.71% of all counties have an unemployment rate smaller than that value? (d) Free response submission. Use JMP to create a histogram and boxplot of the unem ployment rates (you do not need to upload the histogram or boxplot, but you will need to use it to be able to answer this question). Also, assume that the unemployment rate is always positive (this assumption follows the Economic literature which states that the only way an economy could have a zero percent unemployment rate is if it were severely overheated.) Using your JMP output, the theoretical properties of the Normal distribu- tion, and your answer to part 4c, give two reasons why the statistical analysis in parts 4a through 4c may be incorrect.