{Oil Quality and Price Narrative} Plot the least squares regression line on the scatter diagram.

API Gravity

A measure of how heavy or light a petroleum liquid is compared to water, used in the oil industry to classify oils.

Price Per Barrel

The cost for a barrel of commodities such as oil or beer, typically used to measure large quantities.

Least Squares Regression

A statistical method used to determine the best-fitting line through a set of data points by minimizing the sum of the squares of the vertical distances of the points from the line.