I was a bit confused on what the parameter t was doing at first but basically, it determines the position of the final intermediate point. For example, when t = 0, this corresponds to the starting point which in this case is b0 whereas when t = 1, this corresponds to the last point which is b2. In this slide, because the t is closer to 0, it is much closer to the left as shown by the point b0^2. In other words, t controls how far along the curve the interpolated point should be.
I was a bit confused on what the parameter t was doing at first but basically, it determines the position of the final intermediate point. For example, when t = 0, this corresponds to the starting point which in this case is b0 whereas when t = 1, this corresponds to the last point which is b2. In this slide, because the t is closer to 0, it is much closer to the left as shown by the point b0^2. In other words, t controls how far along the curve the interpolated point should be.