If a model using high school GPA and SAT scores to predict college GPA has an R²of .863, what does this tell us?

86.3% of the sample variation in high school grades can be explained by the model with college grades and SAT scores

86.3% of the sample variation in college GPA can be explained by the model with high school GPA and SAT scores

95% of all high school grades fall within 86.3% of their predicted values

95% of all college grades will fall within 86.3% of their predicted values