To find the fraction of cars on the lot that are both gray and electrically powered, we need to multiply the fractions given.
Let's denote the total number of cars as \( C \).
- The fraction of cars that are gray is \( \frac{2}{5} \).
- The fraction of gray cars that are electrically powered is \( \frac{1}{3} \).
To find the fraction of the total number of cars that are both gray and electrically powered, we multiply these two fractions:
\[ \text{Fraction of cars that are gray and electrically powered} = \left(\frac{2}{5}\right) \times \left(\frac{1}{3}\right) \]
Calculating the multiplication:
\[ = \frac{2 \times 1}{5 \times 3} = \frac{2}{15} \]
Thus, the fraction of the cars on the lot that are both gray and electrically powered is \( \frac{2}{15} \).