Answer: To calculate the new probability of drawing another orange candy after taking out one orange candy from the bowl, we need to consider the updated number of candies in the bowl.
Initially, the bowl had a total of 5 orange candies, 6 blue candies, 3 green candies, 4 red candies, and 7 yellow candies. After taking out one orange candy, there will be a total of 4 orange candies left in the bowl.
Now, let's calculate the new probability:
Total number of candies remaining in the bowl = 4 orange candies + 6 blue candies + 3 green candies + 4 red candies + 7 yellow candies = 24 candies
Probability of drawing another orange candy = Number of orange candies left / Total number of candies remaining in the bowl = 4 / 24 = 1/6
Therefore, the new probability of drawing another orange candy is 1/6.