This paper uses the data from the 1966 Educational Opportunities Survey (EOS) to investigate regional and racial inequalities in education by applying a definition of inequalities that incorporates both school inputs and educational outcomes. Inequalities in school inputs are weighted by their importance for educational outputs, in order to empirically assess the extent and source of inequalities experienced by different racial and regional groups. A particular racial or regional group is said to experience inequalities relative to another group if its educational achievement is shown to change significantly when its own school inputs are replaced by the school inputs of the other group, while retaining its own family resources. Multiple regression techniques are used to obtain estimates of predicted average achievement for a racial or regional subgroup when they are assigned the average school resources from another group. The difference between the observed mean achievement and the predicted average achievement indicates the degree and direction of the inequality. (Author/JM)