Step 1 :The problem states that the rate at which you run to your friend's house is inversely proportional to the time it takes to get there. This means that the product of the rate and the time is a constant. We can express this relationship mathematically as \(r*t = k\), where \(r\) is the rate, \(t\) is the time, and \(k\) is the constant of proportionality.
Step 2 :We can find the value of \(k\) using the given information: when the rate is 7 miles per hour, the time is 30 minutes. So, \(r = 7\) and \(t = 0.5\) hours.
Step 3 :Substituting these values into the equation \(r*t = k\), we get \(k = 3.5\).
Step 4 :Final Answer: The equation relating the rate and time is \(\boxed{r*t = 3.5}\).