How far do rich parents take us? How much education
Chapter , Problem 6.97(choose chapter or problem)
How far do rich parents take us? How much education children get is strongly associated with the wealth and social status of their parents, termed socioeconomic status, or SES. The SES of parents, however, has little influence on whether children who have graduated from college continue their education. One study looked at whether college graduates took the graduate admissions tests for business, law, and other graduate programs. The effects of the parents SES on taking the LSAT test for law school were both statistically insignificant and small. (a) What does statistically insignificant mean? (b) Why is it important that the effects were small in size as well as statistically insignificant?
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