4 R
2 G
2 Y
---
8 total
Without replacement:
P(1st is G, 2nd is Y, 3rd is R) = (2/8)(2/7)(4/6) = 16/336 = 1/21
The 2/7 comes from the fact that only 7 remain after the first draw, and there are 2 Yellow so 2/7 represents the probability of a favorable 2nd draw outcome. Similar for 3rd factor relating to the draw of Red.
With replacement:
In this case, the denominator stays constant at 8, as we are replacing after each selection: P(G, Y, R) = (2/8)(2/8)(4/8) = 16/512 = 1/32
Qualitatively, this makes sense: say we pick G on 1st draw. Since we are replacing that G into the urn, it slightly reduces the probability of selecting a Y on the 2nd draw. Similar for R on 3rd draw.