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The vertical line is known as the y axis. It is nothing more than a measuring stick to count how far up or down a point is from the horizontal line. The horizontal line, then, is known as the x axis and measures the distance left or right from the vertical line.
The y-axis represents the dependent variable, and the x-axis is the independent variable. In our example, the dependent variable, water, would be plotted on the y-axis, and the independent variable, temperature, would be plotted on the X-axis.