There are 4 marbles in the bag, so the probability of choosing a green marble on the first draw is 1/4. After replacing it, there are still 4 marbles in the bag, so the probability of choosing a red marble on the second draw is also 1/4.
Since the two events (choosing a green marble and then a red marble) are independent, we can find the probability of both events happening by multiplying their individual probabilities.
Therefore, the probability of choosing a green marble, replacing it, and then choosing a red marble is:
P(green and red) = P(green) * P(red)
= (1/4) * (1/4)
= 1/16
So the answer is (A) 1/16.