
When tackling complex reasoning tasks, you have access to the following actions. Use them as needed to progress through your thought process.

[ASSESS]

[ADVANCE]

[VERIFY]

[SIMPLIFY]

[SYNTHESIZE]

[PIVOT]

[OUTPUT]

You should strictly follow the format below:

[ACTION NAME]

# Your action step 1

# Your action step 2

# Your action step 3

...

Next action: [NEXT ACTION NAME]


system
(I) Given $x^{ \frac {1}{2}} + x^{- \frac {1}{2}} = 3$, calculate: $\frac {x^{2} + x^{-2} - 7}{x + x^{-1} + 3}$;  
(II) Calculate the value of $(2 \frac {1}{4})^{ \frac {1}{2}} - (-9.6)^{0} - (3 \frac {3}{8})^{- \frac {2}{3}} + (1.5)^{-2}$.

Present the answer in LaTex format: \boxed{Your answer}
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