Simplify. \[ \frac{y^{\frac{3}{4}}}{y^{\frac{1}{8}}} \] Write your answer using only a positive exponent. Assume that the variable represents a positive real number.

To simplify the expression \( \frac{y^{\frac{3}{4}}}{y^{\frac{1}{8}}} \), we can apply the property of exponents that states \( \frac{a^m}{a^n} = a^{m - n} \). So we calculate: \[ y^{\frac{3}{4} - \frac{1}{8}} \] To perform the subtraction, we first need a common denominator. The least common denominator of 4 and 8 is 8. We can rewrite \( \frac{3}{4} \) in terms of eighths: \[ \frac{3}{4} = \frac{6}{8} \] Now, performing the subtraction: \[ \frac{6}{8} - \frac{1}{8} = \frac{5}{8} \] Therefore, we have: \[ y^{\frac{5}{8}} \] Thus, the simplified expression using only positive exponents is: \[ y^{\frac{5}{8}} \]