The equation vout = vin(1 + rf/r1) represents the output voltage of a non-inverting amplifier in an electronic circuit, where vout is the output voltage, vin is the input voltage, rf is the feedback resistor, and r1 is the resistor connected to the ground. This formula highlights how the amplifier can increase the amplitude of the input signal based on the ratio of the feedback resistor to the input resistor. Understanding this relationship is crucial for designing amplifiers that meet specific gain requirements in various applications.