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Here is Per-Pupil Spending charted against the schools sorted by Quant Score. If this spending were correlated with the score, the line would have some overall slope in one direction or another. It does not, suggesting no obvious or direct correlation between spending and results.

To check other factors, click the selector that says "Per-Pupil Spending" and pick some other metric, like SAT Total (heavily correlated, of course, since it's part of the score), Students Per Teacher (no obvious correlation), Sports Teams (no obvious correlation) or Per-Capita Income (not in the magazine article at all, but hmm).
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