The equation y = $0.75x + $4.95 represents the total amount that Kip spent at the fair, where x represents the number of tickets Kip bought. The term $0.75x represents the cost of the tickets, which increases as the number of tickets (x) increases. The term $4.95 represents the fixed cost of entering the fair.
For example, if Kip bought 10 tickets, then the cost of the tickets would be 10 x $0.75 = $7.50. Adding the fixed cost of $4.95, the total amount Kip spent would be $7.50 + $4.95 = $12.45. We can calculate the total amount spent (y) for any number of tickets (x) using the equation y = $0.75x + $4.95.