Yes. Investigations have shown that photosynthesis takes up carbon dioxide and water.
The assertion that a plant's mass comes mostly from air (specifically carbon dioxide) and water is supported by the process of photosynthesis. During photosynthesis, plants absorb carbon dioxide from the air and water from the soil. These components, along with sunlight, are used to produce glucose and oxygen. The mass of the plant increases because of the carbon incorporated into the plant tissues, derived from the carbon dioxide in the air and the water used in the process. Thus, the student's claim is reasonable and can be substantiated through research into photosynthesis.