Step 1: Set up the pipe lengths.
Let the open pipe have length $L_o$ and the closed pipe length $L_c$. We are told $L_o = \tfrac{L_c}{2}$, that is $L_c = 2L_o$.
Step 2: Use the node count for the open pipe.
In an open pipe both ends are antinodes. For four nodes inside, the open pipe vibrates in its fourth harmonic, so its frequency is $f_o = \dfrac{4v}{2L_o} = \dfrac{2v}{L_o}$.
Step 3: Use the node count for the closed pipe.
A closed pipe supports only odd harmonics. The harmonic that produces four nodes corresponds to $n = 7$, so its frequency is $f_c = \dfrac{7v}{4L_c}$.
Step 4: Substitute the length relation.
Replace $L_c = 2L_o$: $f_c = \dfrac{7v}{4(2L_o)} = \dfrac{7v}{8L_o}$.
Step 5: Form the ratio.
$\dfrac{f_o}{f_c} = \dfrac{2v/L_o}{7v/8L_o} = \dfrac{2v}{L_o}\times \dfrac{8L_o}{7v} = \dfrac{16}{7}$.
Step 6: Conclude.
The frequency ratio of the open to the closed pipe is $16:7$, which is option (2).
\[ \boxed{f_o : f_c = 16 : 7} \]