The problem asks to find the slope and y-intercept of the given equation $y = \frac{7}{8}x - 2$.

1. Problem Description

The problem asks to find the slope and y-intercept of the given equation $y = \frac{7}{8}x - 2$.

2. Solution Steps

The equation is in slope-intercept form, which is $y = mx + b$, where $m$ is the slope and $b$ is the y-intercept.

Comparing $y = \frac{7}{8}x - 2$ with $y = mx + b$, we can identify:

$m = \frac{7}{8}$

$b = -2$

Therefore, the slope is $\frac{7}{8}$ and the y-intercept is $-2$. The y-intercept is the point where the line crosses the y-axis, which occurs when $x=0$. Thus, the y-intercept as an ordered pair is $(0, -2)$.

3. Final Answer

Slope = $\frac{7}{8}$

Y-intercept = $(0, -2)$