I'm studying for my first stat exam, but I'm having trouble setting this problem up. I understand conditional probability whenever it is in a cross-tabulation table, such as P (B|E), but I don't know what numbers to use whenever I have a word problem. I've been going over the problems in my book to practice, but I'm stuck on this one:
Here's the question:
The U.S. Bureau of Labor Statistics publishes data on the benefits offered by small companies to their employees. Only 42% offer retirement plans while 61% offer life insurance. Suppose 33% offer both retirement plans and life insurance as benefits. If a small company is randomly selected, determine the following probabilities:
a. The company offers a retirement plan given that they offer life insurance.
I tried to set it up as a cross-tabulation table, but it didn't work.