Guitar Tab

I am new to this site and a begining guitar player. I am familiar with chord diagrams and tab, but I am not sure how the tab below is read and played.
e-|-------||---------------------|---------------------||
B-|-------||-----5--------5------|----5--------5-------||
G-|-------||:------7--------7----|------7--------7----:||    I can play this because I know the song but what is 2/7?
D-|-------||:--6--------6--------|--6--------6--------:||
A-|--2/7--||---------------------|---------------------||

e-|--------------------|-------0-----------0-||
B-|--------------------|-----3-----------3---||
G-|--1-2-1-2-1-----1-2-|-2/4-----2-1-2/4-----||     Here is another bar.
D-|--------------2-----|---------------------||
A-|--------------------|---------------------||
E-|--------------------|---------------------||

Thanks!