You have a 40% chance per cast of Arcane Blast to proc Missile Barrage.
In other words, you have a 60% chance per cast that you will not get the proc.
You can calculate the chance of at least one proc quite easily.
On 1 casts (1.00 - (0.60)) = 0.40 = 40% Proc Chance.
On 2 casts (1.00 - (0.60 x 0.60) = 64% Proc Chance.
On 3 casts (1.00 - (0.36 x 0.60) = 78.4% Proc Chance.
On 4 casts (1.00 - (0.216 x 0.60) = 87.04% Proc Chance.