Step 1: Determine the total ratio of blue to red fish.
The ratio of blue to red fish is 4:1. This means for every 5 fish, 4 are blue and 1 is red.
Step 2: Set up the hypergeometric distribution.
We want to calculate the probability of getting 2 blue fish and 2 red fish when picking 4 fish randomly. The hypergeometric probability is given by:
\[
P(X = k) = \frac{\binom{N_b}{k} \binom{N_r}{n-k}}{\binom{N}{n}}
\]
Where:
\(N\) is the total number of fish (assumed large),
\(N_b\) is the number of blue fish,
\(N_r\) is the number of red fish,
\(n = 4\) is the number of fish picked,
\(k = 2\) is the number of blue fish picked.
Step 3: Apply the formula for this specific scenario.
Since the population is large and the ratio is 4:1, we assume probabilities without worrying about the finite population.
Let the total number of fish be \(N = 5x\), where \(N_b = 4x\) and \(N_r = x\). Choose \(x = 20\) for simplicity, so \(N = 100\), \(N_b = 80\), \(N_r = 20\).
Applying the hypergeometric formula:
\[
P(\text{2 blue, 2 red}) = \frac{\binom{80}{2} \binom{20}{2}}{\binom{100}{4}}
\]
\[
= \frac{3160 \times 190}{3921225} \approx 0.1531
\]
Final Answer:
The probability is approximately: \( \boxed{0.153} \)