Answer
Slope: $\frac{1}{4}$
$y$-intercept: $-\frac{1}{3}$
Work Step by Step
The slope-intercept form of a linear equation of a non vertical line is $y=mx+b$, where $m$ is the slope and $b$ is the $y$-intercept.
We use this to pick out the slope and the $y$-intercept from the equation $y=\frac{1}{4}x-\frac{1}{3}$.
We can rewrite this equation in slope-intercept form as $y=\frac{1}{4}x+(-\frac{1}{3})$.
Since $\frac{1}{4}$ takes the place of $m$ in the equation, it is the slope.
Since $-\frac{1}{3}$ takes the place of $b$ in the equation, it is the $y$-intercept.