1. The problem is to find the value of the fraction $\frac{1}{4}$. 2. A fraction $\frac{a}{b}$ represents the division of $a$ by $b$. 3. Here, $a=1$ and $b=4$, so $\frac{1}{4}$ means 1 divided by 4. 4. Dividing 1 by 4 gives $0.25$. 5. Therefore, $\frac{1}{4} = 0.25$.