true or false. Explain A researcher is interested in whether per-pupil spending on education improves student test scores, but she is worried about omitted-variable bias. She decides to use...

true or false. Explain

A researcher is interested in whether per-pupil spending on education improves student test scores, but she is worried about omitted-variable bias. She decides to use median income within a school district as an instrument for education spending because wealthier areas tend to invest more in education. She runs a regression of per-pupil education spending on median income in the district and finds that the t-statistic on the slope coefficient is 8. We can, therefore, conclude that median income is a good instrument for education spending.