Step 1 :Define the events: Let A be the event that the company sponsored a professional football game and B be the event that the company got a high rating.
Step 2 :We are given the following probabilities: \(P(A) = 0.2\), \(P(B|A) = 0.7\), \(P(A') = 0.5\), \(P(B|A') = 0.8\), \(P(A'') = 0.3\), \(P(B|A'') = 0.5\), where A' is the event that the company sponsored a college football game and A'' is the event that the company sponsored a baseball game.
Step 3 :Calculate the total probability of getting a high rating, \(P(B)\), using the law of total probability: \(P(B) = P(B|A)P(A) + P(B|A')P(A') + P(B|A'')P(A'') = 0.7*0.2 + 0.8*0.5 + 0.5*0.3 = 0.69\).
Step 4 :Use Bayes' theorem to find the probability that the company sponsored a professional football game given that it got a high rating, \(P(A|B)\): \(P(A|B) = \frac{P(B|A)P(A)}{P(B)} = \frac{0.7*0.2}{0.69} = 0.20289855072463764\).
Step 5 :Final Answer: The probability that the company sponsored a professional football game given that it got a high rating is approximately \(\boxed{0.203}\).