Answer
$\frac{V_1}{V_2} = 8$
Work Step by Step
We can compare the volumes of two regular square pyramids:
$\frac{V_1}{V_2} = (\frac{e_1}{e_2})^3$
$\frac{V_1}{V_2} = (\frac{4~in}{2~in})^3$
$\frac{V_1}{V_2} = (2)^3$
$\frac{V_1}{V_2} = 8$