The University of Washington was ranked No. 7 by Business First, a Buffalo-based publication, for America’s top 10 best public colleges and universities, the publication released Tuesday, Feb. 23. Business First, owned by American City Business Journals, used a 20-part formula based on academic excellence, prestige, affordability, diversity and economic strength to calculate each of the 477 participating universities’ scores. Out of the six Washington institutions included in the report, the UW ranked first, following by Washington State University (No. 112). UC Berkeley…