Final answer:
The IF statement with the OR function returns 'Yes' if at least one of the conditions Red Card≥2, Yellow card≥2, or Green card≥2 is true, otherwise it returns 'No'.
Step-by-step explanation:
The student's question pertains to the behavior of an IF statement combined with an OR logical function in a spreadsheet program such as Microsoft Excel. The correct answer to this question is Option 1: The IF statement checks if any of the conditions Red Card≥2, Yellow card≥2, or Green card≥2 are true, and returns Yes if any of the conditions are true; otherwise, it returns No. This is because the OR function returns true if at least one of the conditions is met. If the condition within the OR function evaluates to true, the IF statement will produce 'Yes'; if the condition evaluates to false, the IF statement will produce 'No'.