The graph of f(x) = ½ √x - 1 can be obtained by applying the following transformations to the graph of y = √x:
1. Shift the graph one unit to the right by adding 1 to the x-coordinate: y = √(x - 1)
2. Stretch the graph vertically by a factor of 1/2: y = ½√(x - 1)
Therefore, the graph of f(x) = ½ √x - 1 is a vertically stretched and horizontally shifted version of the graph of y = √x.