1. **State the problem:** We are given the equation for a reference voltage $V_{ref}$ as a function of current $I$: $$V_{ref} = 8 \cdot 0.05 \cdot I$$ 2. **Formula and explanation:** This is a simple linear relationship where $V_{ref}$ is proportional to $I$ with a constant multiplier. 3. **Simplify the constant multiplier:** $$8 \cdot 0.05 = 0.4$$ 4. **Rewrite the equation:** $$V_{ref} = 0.4 I$$ 5. **Interpretation:** For every unit increase in current $I$, the reference voltage $V_{ref}$ increases by 0.4 units. This is the simplified and final form of the equation.