Final answer:
The best interpretation of the given value of 0.67 is the typical distance between the observed and predicted GPAs.
Step-by-step explanation:
The best interpretation for the given value of 0.67 is the third option: "the typical distance between the observed and predicted gpas was about 0.67 points." This means that on average, there is a difference of 0.67 points between the predicted GPA and the actual observed GPA of the students.