To determine if a relationship can be found between school size and academic achievement, a study examined correlations for 566 New Mexico public schools (grades 5, 8, and 11) from 1978 to 1981. The measure of academic achievement used was the schools' average "total scale score" on the Comprehensive Tests of Basic Skills. The two questions to be answered were whether there is a relationship between school enrollment size and student achievement, and whether there is such a relationship when correlations have been made for certain other predictors of achievement. Examining the 12 multiple regression model results (3 grades times 4 years) indicated that in 11 cases, school enrollment size was not significantly related to academic achievement. The study concluded that school enrollment size was not related to academic achievement, and that percentage of students eligible for Title I and percentage of Native American and Spanish American students appeared to be significantly related to academic achievement. Recommendations were that since academic achievement seems unrelated to school size, other factors should be considered when school consolidation is contemplated, and since academic achievement appears highly related to socioeconomic and cultural/ethnic factors, these two areas should be considered when developing new programs. (MH)