The answer used to be on Reddit, RIP
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In RPG terms, travel time is subject to a “hyperdrive factor”, which is multiplied into the overall travel time between two systems on a jump.
In this context, the .5 meant that the Falcon’s hyperdrive halved travel time vs the best standard military grade hyperdrives of the day, which were x1 units.
I assume it means 150% of the speed of light.
Probably it means “really fast”
Another question is what’s a parsec? George could never figure it out either
That’s funny too, because a parsec is a real life unit of measure, it’s about 3 light years
Doesn’t mean anything, just something George wrote to sound cool. Same thing with the Kessel and parsecs, which only were only retroactively made to make sense later.