Return on Investment

To determine return on investment of state expenditures, we divided the state NAEP performance index by the average per pupil expenditure, adjusted for cost of living. The spending data came from the Census Bureau’s 2014 report Public Education Finances 2012, and the cost-of-living adjustment was derived from the work of the Missouri Department on Economic Development. We then ranked these scores and awarded A’s to the top 10, B’s to the next 10, C’s to the next 11, D’s to the next 10, and F’s to the bottom 10.