Use the following information on total nonfarm payrolls in New Jersey from 1965 to 1989, which is

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Use the following information on total nonfarm payrolls in New Jersey from 1965 to 1989, which is taken from New Jersey Economic Indicators, March 1990, to answer question.image text in transcribed

Compare the different forecasts of nonfarm income that you made in questions 54–56.

Question 54

Compute the 3-year moving average for nonfarm income. Use this information to forecast nonfarm income in 1990 and in 1991.

Question 55
Use the MINITAB program to do a time trend regression to forecast nonfarm income in 1990 and in 1991.

Question 56
Use a first-order autoregressive process to forecast nonfarm income in 1990 and in 1991.

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Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

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