help in solving this quant ques ??

OK, first of all, this is in no way a realistic GMAT question. The GMAT would never ask this question.

It seems that we are able to make any choice we want for P ---- if the question has a meaningful numerical answer, that answer should be independent of the choice of P.

If P is zero or anything less than zero, there are not possible values of x, so there's no set to consider at all.

If P = 1, the only value in the set would be x = 0, and it violates the mathematical law to plug this in ---- so the probability is zero that we could plug a member in, and the inequality would true.

If P = 2, then the set consists of {-1, 0, 1}
When x = -1, 4/(-1) = -4 is less than -1, so the inequality is false
When x = 0, the inequality is meaningless
When x = 1, 4/1 = 4 > 1, and the inequality is true.
The probability that a value in this set makes the inequality true is 1/3

Let's jump to P = 4. Then, the set consists of {-3, -2, -1, 0, 1, 2, 3}
When x = -3, then (-4/3) is greater than (-3), and the inequality is true
When x = -2, then -2 = -2, and the inequality is false
When x = -1, 4/(-1) = -4 is less than -1, so the inequality is false
When x = 0, the inequality is meaningless
When x = 1, 4/1 = 4 > 1, and the inequality is true.
When x = 2, then 2 = 2, and the inequality is false.
When x = 3, then 4/3 is less than 3, so the inequality is false.
The probability that a value in this set makes the inequality true is 2/7

What we have found is that if we pick different values of P, the question itself takes on different answers. This means, if P is unspecified, there is no meaningful answer to the question, so E would be the best response.

I am not terribly familiar with JumboTest, but judging from this question, I think you need to find a much higher quality source of GMAT prep material.

Does all this make sense?

Mike