To calculate the probabilities of the two events, we will treat the fractions you provided as probabilities.

1. For $\frac{4}{24}$: $P(\text{Event 1}) = \frac{4}{24} = \frac{1}{6} \approx 0.1667$ So, the probability of this event is approximately 0.1667 or 16.67%.

2. For $\frac{3}{24}$: $P(\text{Event 2}) = \frac{3}{24} = \frac{1}{8} = 0.125$ So, the probability of this event is 0.125 or 12.5%.

If you're interested in the joint probability of both events happening together (depending on whether they are independent or not), or if you'd like further clarification, feel free to ask!

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Here are some related questions:

1. How do you calculate joint probabilities if two events are independent?
2. What is the difference between independent and dependent events in probability?
3. How would you calculate conditional probability?
4. Can you explain the concept of probability distributions?
5. What is the formula for calculating probabilities in multiple trials (like in binomial probability)?

Tip: Always simplify fractions in probability to make calculations easier.