Why rich people prefer elite schools when most others doesn’t see any wort in it?

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Sure you can - exact comparisons by score tier are in my post (#126). I’ll say what I was saying differently: there are noticeably more kids percentagewise in the highest test score brackets at Dartmouth than at Michigan, and there are a not-insignificant number of kids at Michigan whose test scores would have kept them out of Dartmouth. The fact that there are more kids in absolute terms in the highest (and all other) score brackets at Michigan is because Michigan is 5.7x as large as Dartmouth.

Put another way, the number of Michigan freshmen with SATs in the 600s or lower, or with a 29 ACT composite or below, is greater than the entire freshman class at Dartmouth, possibly substantially.

So when you walk around campus, and meet lots of kids, on balance you’re going to think there are proportionately more really bright ones at Dartmouth if you judge by test scores (which is the basis of comparison you cited), even though you may meet more of them at Michigan in absolute terms.

Now, I do believe there may be more extreme right-tail, off-the-charts-brilliant kids at Michigan (even percentagewise) than at Dartmouth, because the ones who would have preferred Dartmouth to Michigan chose HYPSM instead - but that’s another story. There are very few of those, and it’s hard to meet them in an environment of 25,000 undergraduates.