Execute a function inside script tag

This my script.

<script>
$(document).ready(function(){
    $('#type').on('change',function(){
        $('#color').val($(this).val());

    });

});

How should I execute this code? Where should I call? That is in the view blade.php file. Form is also there. Do I need to call that on submit button? The above code is to change a hidden input value according to selected drop box value

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