Mathematicians Deconstruct US News College Rankings
An anonymous reader writes "US News makes a mint off its college rankings every year, but do they really give meaningful information? A pair of mathematicians argues that the data the magazine uses is all likely to be at least somewhat relevant, but that the way the magazine weights the different statistics is pretty arbitrary. After all, different people may have different priorities. So they developed a method to compute the rankings based on any possible set of priorities. To do it, they had to reverse-engineer some of US News's data. What they found was that some colleges come out on top pretty much regardless of the prioritization, but others move around quite a lot. And the top-ranked university can vary tremendously. Penn State, which is #48 using US News's methodology, could be the best university in the country, by other standards."
A college degree is an education, and that should be of paramount concern. It's also nice to be in a place you'd enjoy living, etc.
But then there's reputation. You might get the same education at CMU and MIT, but if you're looking for jobs, all other things being equal, someone's gonna pick the MIT grad because it'd a bigger name. I realize it's variable across fields and with individuals, but names mean something to a lot of people, particularly when they're not really qualified to judge on merits.
I've actually played with ranking data quite extensively, and usually for reasonable weighthings of the parameters the movement in position is in the order of plus/minus 5 places. Sure, Penn State would be number one if all one cared about is retention rates, but really nobody does. Instead we can define a range of reasonable weights for retention rates (say between 7% and 35% of the total weight) and test all possible combinations in that space, suddenly Penn State place goes up and down a fairly small amount.
A bigger concern is what is the value of selecting a school based on the ranking as a whole, without paying attention to the your likely area of major. Say, Yale is a great school but in CS is a non-entity. If you are positive CS is your thing, MIT, Stanford, Harvard and Princeton are far better choices.