How can you adjust the volume on a clip in the timeline?

Adjusting the volume on a clip in the timeline can be efficiently accomplished by manipulating the volume line directly within the clip. When you expand the height of the video track, it allows you to see the audio waveform and the volume line, which represents the audio level of the clip. By dragging this volume line up, you increase the volume, while dragging it down decreases the volume. This method provides a straightforward visual way to control the audio levels and allows for precise adjustments based on the needs of your project.

The other methods suggested, while they might seem valid, do not provide the same level of direct manipulation in this context. Opening audio settings by double-clicking the audio track might allow for some adjustments, but it is less intuitive than the drag-and-drop method. Using the effects panel to change volume levels typically requires applying specific audio effects rather than adjusting the clip volume directly. Finally, right-clicking the clip and selecting adjust volume might not be a standard feature in many video editing software interfaces, making it less reliable as a method for volume adjustments in timelines.