The equation you provided is in the slope-intercept form \( y = mx + b \), where \( m \) represents the slope and \( b \) represents the y-intercept.
From the equation \( y = \frac{1}{2}x + 1 \):
- The slope \( m \) is \( \frac{1}{2} \).
- The y-intercept \( b \) is \( 1 \).
So, the slope is \( \frac{1}{2} \) and the y-intercept is \( 1 \).