To find the point that represents the location where Alice and her friend should meet, we need to calculate the midpoint between their two homes. The coordinates of Alice's home are \((-1, 2)\) and her friend's home is \((3, 4)\).
The formula for the midpoint \((x_m, y_m)\) between two points \((x_1, y_1)\) and \((x_2, y_2)\) is:
\[ (x_m, y_m) = \left( \frac{x_1 + x_2}{2}, \frac{y_1 + y_2}{2} \right) \]
Substituting the coordinates of Alice and her friend's homes into the formula:
\[ x_m = \frac{-1 + 3}{2} = \frac{2}{2} = 1 \]
\[ y_m = \frac{2 + 4}{2} = \frac{6}{2} = 3 \]
Thus, the midpoint, which represents the location where they should meet, is \((1, 3)\).
Therefore, the correct answer is:
\(\left( 1, 3 \right)\)