Joseph had 7one-fourth ounces of candy to share with his friends. He gave them 2four-fifths ounces of candy when they came over to play video games. How many ounces of candy does Joseph have left?

Joseph had 7 1/4 = 7.25 ounces of candy.

He gave out 2 4/5 = 2.8 ounces of candy.
Joseph has 7.25 - 2.8 = <<7.25-2.8=4.45>>4.45 ounces of candy left. Answer: \boxed{4.45}.