To calculate the moment of inertia for a flat rectangular plate with length 'l' and width 'w' about an axis parallel to the width, the formula I = bh^3/3 is applicable, where 'b' is the width and 'h' is the height. Users are seeking a complete derivation of this formula, including calculus and integration steps. The parallel axis theorem may also be relevant in this context. The discussion highlights that the area moment of inertia must be adjusted by density for mass calculations. Understanding the moment of inertia of a thin rod about one end can simplify the problem.