Step 1 :Given the probabilities $P(A)=\frac{2}{3}$, $P(A')=\frac{1}{3}$, $P(B|A)=\frac{1}{7}$, and $P(B|A')=\frac{7}{10}$.
Step 2 :We can use Bayes' Theorem to find $P(A|B)$, which is defined as $P(A|B)=\frac{P(A) \cdot P(B|A)}{P(A) \cdot P(B|A)+P(A') \cdot P(B|A')}$.
Step 3 :Substitute the given probabilities into the formula, we get $P(A|B)=\frac{\frac{2}{3} \cdot \frac{1}{7}}{\frac{2}{3} \cdot \frac{1}{7}+\frac{1}{3} \cdot \frac{7}{10}}$.
Step 4 :Simplify the above expression to get $P(A|B)=0.29$.
Step 5 :Final Answer: The probability of event $A$, given that event $B$ has occurred, is $P(A|B)=\boxed{0.29}$.