Based on the evidence from the experiment, the most appropriate conclusion the student can make is:
Magnetic fields can be observed between objects that are not touching.
This conclusion directly relates to the experiment of measuring the effects of a bar magnet on a paper clip at various distances, illustrating that magnetic forces can act over distances without direct contact between the magnet and the paper clip. The other statements either misinterpret how magnetic fields operate or don't directly relate to the evidence provided by the experiment.