24:24 5. Trend analysis The U.S. Census Bureau collects data on the size and location of the houses that are constructed each year in the United States. The table and corresponding plot that follow show annual time series data on the mean square feet of floor space in new one-family houses in the South. Floor Space (Mean Square Feet] Year 1996 Mean Square Feet 1996 1997 1997 1998 1998 1999 1999 2000 2000 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2,600 2,500 2,400 2,300 2,200 2,100 1996 1998 2000 2002 2004 2006 2008 Year Smoothing methods are applicable to the time series because the size of new one-family houses in the South has an upward linear trend To fit a linear trend to the time series, you estimate a regression model with mean floor space time as the independent variable(s). as the dependent variable and You fit a linear trend to the time series and obtain the following results: bo -2,102.5, b -35.2, and the p-value for b -0.0000. A graph that shows the trend line along with the time series follows.