Yes, 4/8 and 1/2 are equivalent, because 4/8 reduced to simplest form is 1/2.
I believe the answer is y= -3
First find the numbers that are divisible by 3.
3, 6, 9, 12, 15, 18, 21, 24
There are 8 numbers divisible by 3 so there are 16 that are not divisible by 3.
P(not div by 3) = 16/24 = 2/3
1 foot = 12 inches
2 x 12 = 24 +3 = 27 inches
3 x 12 = 36 +5 = 41 inches
27*41 = 1107 square inches
1107 * 0.35 = $387.45