The process of setting up a new meeting is very similar to setting up a new event, expect that for a meeting you can choose a location and book the room at the same time. You can also check whether individuals are free or busy at the proposed meeting time and thereby arrange meetings for a time when everyone is available. Here you can find explanations of two options for setting up a meeting, with and without the Scheduling Assistant.
The video below, provided by Microsoft, shows you how to create a meeting. Additional training videos on meetings can be found here: Manage meetings