A researcher believes that a college education is a waste of time. To prove this

Question

A researcher believes that a college education is a waste of time. To prove this, she collected data on the cumulated wealth of every member of the Harvard Class of 1977 (and those dropouts supposed to graduate in 1977) in 25 years after graduation (wealth gained in the period of year 1977-2002). The average cumulated wealth of the dropouts is much higher than that of the graduates. She concludes from this data that actually finishing the college education is not as important as being admitted to the college. What do you think?

Explanation / Answer

I think she is incorrect.First of all ,she has selected only the class of 1977 which is clearly not a representative of all the college students. Secondly, the value need to be normalized in order to be compared to each other. Also the average wealth of dropouts is higher than the graduates because the number of dropouts will be much lesser than that of the graduates . Because of this the average wealth accumulated by graduates will appear much lesser due to the huge number of graduates .

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