The equation of the line is given in the slope-intercept form, which is \( y = mx + b \), where \( m \) is the slope and \( b \) is the y-intercept.
From the equation \( y = \frac{1}{5}x - 8 \):
- The slope \( m \) is \( \frac{1}{5} \).
- The y-intercept \( b \) is \( -8 \).
Thus, the slope is \( \frac{1}{5} \) and the y-intercept is \( -8 \).