Final answer:
Exit tickets are a form of formative assessment which is used to assess and provide immediate feedback on student learning, allowing adjustments in teaching and learning in real time.
Step-by-step explanation:
When a teacher uses exit tickets during the last few minutes of a math lesson to assess the effectiveness of the instruction and to plan future lessons, they are utilizing what's known as a formative assessment. This type of assessment is aimed at monitoring student learning to provide ongoing feedback that can be used by instructors to improve their teaching and by students to improve their learning. Formative assessments help students identify their strengths and weaknesses and target areas that need work. They also help faculty recognize where students are struggling and address problems immediately. In contrast to summative assessments, which evaluate student learning at the end of an instructional period, the key concept of formative assessment is that it is ongoing and provides information needed to adjust teaching and learning as it is happening.