In the graph of y=kx^2 what type of number is k?

I think it's the rate of change but I'm not sure

k is a constant. The value of k affects the steepness of the parabola

y = 0.01x^2 is a low, flat parabola.
y = 1000x^2 is a thin steep parabola.

k is just a scale factor. So, you are generally right. A larger k means a steeper slope (or rate of change of y with respect to x).