We can start with a single formula y=Mx+b. This is used in the case of only one variable being changed at a constant rate (e.g. a cost per item).
M is your "cost per" (or slope, but in the cases of buying and selling, it means the same). Since a soda costs $0.75, M can be replaced with 0.75.
With this information, we can say,
y=0.75x+b
b is your "base value" (it may also be referred to as a y-intercept). In this situation, it is not too easy to define a base value because it isn't really a base value, it's just a single change in the total outcome. Your base value is from your coupon, which takes away $0.50 from the total cost of the purchase. Since the $0.50 is taken away, b is -0.50. When b is a negative, you can subtract the value rather than add.
So now we get,
y=0.75x-0.5
As for the x and the y. The y is the outcome of the change in the x, and the x is typically what can easily be changed in the given problem. So, x is the number of sodas (n) and y is the total cost (c).
So we end up with,
c=0.75n-0.5 where c is your total cost in dollars and n is the number of sodas bought.
Sorry if this is a bit lengthy, but I hope it helped. Cheers, and best of luck to you!