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Adequacy: Cost Function Approach

Cost function refers to one of several analytical approaches researchers have used over the past couple of decades to provide cost estimates of the provision of an adequate education. Fundamentally, the cost function process employs econometric analyses using extant data (primarily expenditure and achievement data), often coupled with data derived from estimates, to produce cost figures. This entry provides background on the concept of an adequate education, efforts to define an adequate education, and litigation addressing the issue. It then describes the cost function approach, including some of the strengths and weaknesses as identified in the research literature.

Background

A universally accepted definition of adequacy has been somewhat difficult to articulate precisely, which may account for the amount of litigation to interpret the relevant language in state ...

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