The correct response to how a two-way frequency table is used to approximate conditional probabilities is:
by writing the ratio of the intersection of the two conditions with the given condition in the denominator and the preference in the numerator.
This approach allows you to find the conditional probability of one event given another by using the values in the two-way table. The conditional probability \( P(A|B) \) can be interpreted as the probability of event A occurring given that event B has occurred, which can be calculated by taking the frequency of the intersection of events A and B and dividing it by the total frequency of event B.