Since the events are mutually exclusive and exhaustive, the sum of their probabilities must be 1.
Therefore, we have the equation: \[ \frac{1 + 3p}{4} + \frac{1 - p}{3} + \frac{1 - 3p}{2} = 1 \]
To solve this equation, we first take the least common denominator (LCD) of 4, 3, and 2, which is 12.
We rewrite the equation as: \[ \frac{3(1 + 3p)}{12} + \frac{4(1 - p)}{12} + \frac{6(1 - 3p)}{12} = 1 \]
Now, multiply both sides of the equation by 12: \[ 3(1 + 3p) + 4(1 - p) + 6(1 - 3p) = 12 \] Expanding the terms: \[ 3 + 9p + 4 - 4p + 6 - 18p = 12 \]
Simplifying: \[ 3 + 4 + 6 + (9p - 4p - 18p) = 12 \] \[ 13 - 13p = 12 \] \[ -13p = -1 \quad \Rightarrow \quad p = \frac{1}{13} \]