Final answer:
The number of terms less than 300 is 43 and the first term greater than 300 is 305.
Step-by-step explanation:
To find the number of terms in the sequence that are less than 300, we can set up the inequality:
7n - 3 < 300
We can then solve for n:
7n < 303
n < 43.29
Since n represents the number of terms in the sequence and cannot be a decimal, the number of terms that are less than 300 is 43.
To find the first term greater than 300, we substitute n = 44 into the nth term formula:
T44 = 7(44) - 3
T44 = 305
Therefore, the value of the first term greater than 300 is 305.