The general equation of a line is:

Where m is the slope of the line and b its the value of the y-intercept of the line.
Q) The question asks about the equation of a graphed line.
A) In order to find the equation of the line, we note that it passes through the points:

The first point give us the value of the y-intercept of the line (b), so the y-intercept is y = -2, and we have:

Now we must calculate the slope (m) of the line. In general the slope of a line is given by the following formula:

Where (x1,y1) and (x2,y2) are the coordinates of two points of the line. Using the points of above and the last formula we find that:

Answer
Using the values of m and b, and the general equation, we find that the equation of the line is:

Or: y = 1/4 x - 2
So the correct option is option number 3.