1. m is the slope, it tells the inclining degree of a line, and if m is positive, the line goes through first and third quadrant; if m is negative, the line goest hrough second and fourth quadrant. It determines if the line is rising or declining. b is the intercept and the smaller the b is, the line goes down more.
2. we would first think of the form y=kx+b, since there is absolute value involved, it means that the line is above x axis (y>0). also the line has intercept at (0,7)