The given information is Miguel bought 20 ounces of nuts.
1 pound is equal to 16 ounces, by applying this conversion we can find the answer as follows:
[tex]20oz*\frac{1lb}{16oz}=\frac{20}{16}=\frac{5}{4}lb[/tex]Now, convert this fraction to a mixed number:
[tex]\frac{5}{4}=\frac{4}{4}+\frac{1}{4}=1\frac{1}{4}lb[/tex]The answer is 1 1/4 pounds.