Concept: This problem uses the algebraic identity for the difference of two squares: \((A+B)(A-B) = A^2 - B^2\).
Step 1: Identify the pattern on the right-hand side (RHS) of the equation
The right-hand side of the equation is \((7x + \frac{1}{2})(7x - \frac{1}{2})\).
This is in the form \((A+B)(A-B)\), where:
\(A = 7x\)
\(B = \frac{1}{2}\)
Step 2: Apply the difference of squares identity
Using the identity \((A+B)(A-B) = A^2 - B^2\):
\[ (7x + \frac{1}{2})(7x - \frac{1}{2}) = (7x)^2 - \left(\frac{1}{2}\right)^2 \]
Step 3: Simplify the squared terms
\((7x)^2 = 7^2 \times x^2 = 49x^2\)
\(\left(\frac{1}{2}\right)^2 = \frac{1^2}{2^2} = \frac{1}{4}\)
So, the RHS becomes:
\[ 49x^2 - \frac{1}{4} \]
Step 4: Equate the given equation with the simplified RHS
The given equation is \(49x^2 - b = (7x + \frac{1}{2})(7x - \frac{1}{2})\).
We found that the RHS simplifies to \(49x^2 - \frac{1}{4}\).
Therefore, we have:
\[ 49x^2 - b = 49x^2 - \frac{1}{4} \]
Step 5: Solve for b
For this equality to hold true for all values of \(x\), the corresponding terms must be equal.
Comparing the constant terms on both sides (or subtracting \(49x^2\) from both sides):
\[ -b = -\frac{1}{4} \]
Multiplying both sides by -1:
\[ b = \frac{1}{4} \]
The value of b is \(\frac{1}{4}\). This matches option (3).