To find the fraction of cars in the used car lot that are both gray and electrically powered, we can follow these steps:
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Find the fraction of gray cars. According to the given information, \(\frac{2}{5}\) of the cars are gray.
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Find the fraction of gray cars that are electrically powered. We know that \( \frac{1}{3} \) of the gray cars are electrically powered.
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Calculate the fraction of the total cars that are gray and electrically powered. We multiply the fraction of gray cars by the fraction of gray cars that are electrically powered:
\[ \frac{2}{5} \times \frac{1}{3} = \frac{2 \times 1}{5 \times 3} = \frac{2}{15} \]
Therefore, the fraction of the cars on the lot that are both gray and electrically powered is \(\frac{2}{15}\).