Aimed at federal, State, and local educational administrators; educational researchers familiar with cost-benefit analysis and econometrics; and economists interested in problems of educational finance, this study explores the applicability of an econometric model of evaluation to the efficiency of schools. The emphasis is on assessing school input-output relations that appear to be maximizing educational outcomes. The standard constrained-maximum model is formulated for the schools where output is reflected by a verbal achievement measure; inputs are composed of student characteristics, personnel attributes, facilities, and organizational variables. The model is applied to a sample of white 6th graders attending schools in a large, eastern city during 1965-66. However, the model also carries strong implications for those dealing with the problems of inner-city and low-income area schools. One of the major implications of the findings is that evaluation results for any group of schools may not be generalizable to any particular school in the sample. The possibility of constructing efficiency rankings for schools to find out which ones are obtaining the largest outputs for their resource is also explored. (Author)