we have

Scenarios
case a) A container of milk costs at least $1.25 but less than $1.50
Let
x-------> container of milk costs
we know that

this scenario can not be represented with the inequality of the problem
case b) A student spends at least 1 hour 15 minutes, but no more than 1 hour 30 minutes on homework
Let
x-------> time spend in homework in hours
we know that
hour
minutes is equal to
hours
hour
minutes is equal to
hours
so

this scenario can not be represented with the inequality of the problem
case c) A tip added to a restaurant bill is less than or equal to 25% or less than or equal to 50%
we know that
increase a number
% is equal to multiply the number by
increase a number
% is equal to multiply the number by 
Let
x-------> a tip added to a restaurant bill

this scenario can not be represented with the inequality of the problem
case d) The point value of a test item is more than 1.25 points and less than 1.5 points.
Let
x---------> the point value of a test
we know that

this scenario can be represented with the inequality of the problem
therefore
the answer is
The scenario that can be represented with the inequality of the problem is the option
The point value of a test item is more than 1.25 points and less than 1.5 points.