Answer:
0.1608 = 16.08% probability that the business is in the chemical industry if it is known that the business is located in the Mid-West.
Explanation:
Conditional Probability
We use the conditional probability formula to solve this question. It is

In which
P(B|A) is the probability of event B happening, given that A happened.
is the probability of both A and B happening.
P(A) is the probability of A happening.
In this question:
Event A: Failed business in the Midwest.
Event B: Chemical industry.
Probability of failed business being in the Mid-West:
7900 out of 63509. So

Probability of a failed business being a chemical industry in the Mid-West.
1270 out of 63509. So

What is the probability that the business is in the chemical industry if it is known that the business is located in the Mid-West?

0.1608 = 16.08% probability that the business is in the chemical industry if it is known that the business is located in the Mid-West.