I would expect a re-test to have slightly higher averages overall because all the kids now have experience with the class of questions, whereas only some did the 1st time.
To address the population; if the "population" you are referring to is only the seniors in Michigan on _that_ day then it's might be pretty accurate. Looks like the population of Michigan is around 10 million (20% of that is under 18), meaning that this would be extrapolated much more to address just the population of Michigan, not to mention what it means if we apply it to the entirety of the united states. Any population that we apply this to that isn't the sample audience at that specific time will incur some error.
At each of these higher levels of population abstractions we have orders of magnitude higher error margins, which would quickly dwarf the ppt difference between males and females in a single test.