Final answer:
Every number in the set {1, 2, 3, 4} is a factor of 24, so the probability of picking a factor of 24 is 1 or 100%.
Step-by-step explanation:
To calculate the probability (P) of drawing a factor of 24 from the set {1, 2, 3, 4}, we first identify the factors of 24. The factors of 24 are 1, 2, 3, 4, 6, 8, 12, and 24. From our set, the factors of 24 are 1, 2, 3, and 4. Since all four numbers in the set are factors of 24, the probability is 4 out of 4, or P = 1.
To express this as a percentage, we multiply the probability by 100. So, P(factor of 24) x 100 = 1 x 100 = 100%. We do not need to round in this case since our probability is exact.