Final answer:
An IP address is correctly formatted as a 32-bit numeric address, consisting of four numbers separated by periods, where each number ranges from 0 to 255.
Step-by-step explanation:
The correct format of an IP address is option 1: A 32-bit numeric address written as four numbers separated by periods. This format is known as IPv4, and an example of such an address is 192.168.1.1. Each of the four numbers ranges from 0 to 255 and represents a byte of the address. The numbers are composed of digits 0 through 9, and they do not include a decimal point unless necessary to denote fractional values, which is not the case with IP addresses.