Analyze the following statements regarding the classification of waves.
I. Mechanical waves require a material medium for propagation.
II. Electromagnetic waves can propagate through a vacuum and do not require a material medium.
III. In transverse waves, the particles of the medium oscillate perpendicular to the direction of wave propagation.
IV. In longitudinal waves, the particles of the medium oscillate parallel to the direction of wave propagation.
V. Sound waves in air are transverse waves.