The first sentence, beginning "The derivative of ...", is just using implicit differentiation.
The second sentence, beginning "Using the chain rule..." is nonsense because there is no definition or mention of the function "f". Are you sure you haven't acccidently copied that from a separate problem?
If you just replace x and y with 4 and 2 in the first equaton, you get 6y'+ (1/16)(16+ 4y')= 8+ 12y', a linear equation you can easily solve for y' at (4, 2) to complete the problem.