Answer and Explanation:
Given :  A spring stretches in relation to the weight hanging from it according to the equation 
 where x is the weight in pounds and y is the length of the spring in inches.
 where x is the weight in pounds and y is the length of the spring in inches. 
To find : 
1) How to graph the equation including axis labels ?
2) How to interpret the slope and the y-intercept of the line?
Solution : 
Linear equation 

1) To draw the graph we find the x and y-intercept of the line,
x- intercept i.e. y=0
 

 

 

 

y- intercept i.e. x=0
 

 

Plotting these two points (-0.33,0) and (0,0.25).
Refer the attached figure below.
2) The general form of line is 

where, m is the slope and b is the y-intercept of the line.
Comparing with given line 

The slope of the line is m=0.75
and the y-intercept of the line is b=0.25.