Final answer:
To solve this problem, set up a system of equations to represent the given information. Solve the system to find the number of people who own basketballs and baseballs.
Step-by-step explanation:
To solve this problem, we can set up a system of equations. Let's say the number of people who own basketballs is represented by the variable x, and the number of people who own baseballs is represented by the variable y.
According to the given information, the ratio of the number of people who own basketballs to baseballs is 3:4, which can be written as the equation 3x = 4y.
It is also stated that 275 more people own baseballs than basketballs. This can be written as the equation y = x + 275.
Now, we can solve this system of equations to find the values of x and y. Substituting the second equation into the first equation, we get 3x = 4(x + 275). Solving for x, we find that x = 375. Substituting this value back into the second equation, we find that y = 375 + 275 = 650.
Therefore, 375 people own basketballs, and 650 people own baseballs.