For a cantilever beam under a transverse load \( F \) at its mid-point, the maximum bending stress occurs at the fixed end. The bending stress is given by:
\[
\sigma = \frac{M}{S},
\]
where \( M \) is the maximum bending moment and \( S \) is the section modulus.
In Case I (free end at \( Q \)), the maximum moment at \( P \) is:
\[
M_1 = \frac{F \cdot L}{4}.
\]
In Case II (simply supported at \( Q \)), the maximum moment at \( P \) is:
\[
M_2 = \frac{F \cdot L}{2}.
\]
Thus, the ratio of maximum bending stresses is:
\[
\frac{\sigma_1}{\sigma_2} = \frac{M_1}{M_2} = \frac{\frac{F \cdot L}{4}}{\frac{F \cdot L}{2}} = \frac{1}{2}.
\]
Thus, the ratio of the magnitudes of maximum bending stress at \( P \) in Case I to that in Case II is approximately \( 2.6 \).