The overall feedback is shown to a student after they have completed an attempt at the quiz. The text that is shown can depend on the grade the student got.
For example:
Grade boundary: 100%
Feedback: Well done
Grade boundary: 40%
Feedback: Please study this week's work again
...
Grade boundary: 0%
Students who score between 100% and 40% will see the "Well done" message and students who score between 39.99% and 0% will see the "Please study..." message. The grade boundaries define ranges of grades, and each feedback string is displayed to scores within the appropriate range.
The grade boundaries can be specified either as a percentage, for example, 31.41%, or as a number, for example, 7.