Final answer:
Earning 92.5% of the total possible points is the minimum needed to earn a 4.0.
Step-by-step explanation:
To earn a 4.0 grade, a student needs to earn at least 92.5% of the total possible points. Therefore, the statement 'Earning 92.5% of the total possible points is the minimum needed to earn a 4.0' is true. The question relates to the concept of probability, specifically in relation to a 10-question true-false quiz where a student guesses all questions. To pass the quiz with a minimum score of 70%, the student needs to answer at least 7 out of the 10 questions correctly. The chance of guessing any one question correctly is 50% since it's a true or false question. However, calculating the overall probability of getting a certain number of questions right through random guessing involves binomial probability.