To find the fraction of the cars on the lot that are both gray and electrically powered, we can multiply the fraction of gray cars by the fraction of gray cars that are electrically powered.
- Fraction of gray cars: \( \frac{2}{5} \)
- Fraction of gray cars that are electrically powered: \( \frac{1}{3} \)
Now, we multiply these two fractions together:
\[ \text{Fraction of cars that are gray and electrically powered} = \left( \frac{2}{5} \right) \times \left( \frac{1}{3} \right) \]
To multiply the fractions, we multiply the numerators and the denominators:
\[ = \frac{2 \times 1}{5 \times 3} = \frac{2}{15} \]
Thus, the fraction of the cars on the lot that are both gray and electrically powered is \( \frac{2}{15} \).