There is an underlying assumption that regardless of student ethnicity, socio-economic status, or any other variable, elite, independent schools by mission and design are effective at producing successful students. This would cause some to conclude that all students enrolled in elite, independent schools perform similarly on all academic measures.…

The authors studied beginning undergraduate actuarial concentrators in a business college. They identified four variables (math Scholastic Aptitude Test [SAT] score, verbal SAT score, percentile rank in high school graduating class, and percentage score on a college mathematics placement exam) that were available for entering college students that…