Given below are two statements:
| I: | The Ellingham diagram provides an idea about the feasibility of a reaction. |
| II: | The Ellingham diagram explains the rate of the reduction reactions. |
In light of the above statements, choose the most appropriate answer from the options given below:
| 1. | I is correct and II is incorrect. |
| 2. | I is incorrect and II is correct. |
| 3. | Both I and II are correct. |
| 4. | Both I and II are incorrect. |