Let’s say your company was involved in refinery operations and was trying to predict the revenue generated from refined oil products based on the international price of oil over a period of time. So two variables are involved namely the independent variable average price of oil in dollars per day per barrel and the dependent variable average revenue from refined oil products in dollars per day. Below, draw a hypothetical scatter plot for the two variables with the independent variable on the horizontal axis and the dependent variable on the vertical axis. Also locate and draw the approximate regression line.