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.

Use the MINITAB program to plot the data for nonfarm income, and identify the components of the time series.

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Year 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 Total nonfarm Payrolls 2,257.8 2,359.1 2,421.5 2,485.2 2,569.6 2,606.2 2,607.6 2,674.4 2,760.8 2,783.4 2,699.9 2,753.7 2,836.9 Year 1978 1979 1980 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 Total nonfarm. Payrolls 2,961.9 3,027.2 3,060.4 3,060.4 3,089.9 3,092.7 3,165.1 3,329.3 3,414.1 3,489.9 3,581.6 3,659.5 3,709.8