bankers ’ speeches 10. statistics provides a better understanding and exact description of a phenomenon of nature. through an appropriate framework of data collection and well - organised planning of a scientific inquiry in any field of life, it helps in presenting complex information in a suitable tabular, diagrammatic and graphic form for an easy and clear comprehension, and helps in drawing valid inference about the population parameters from the sample data. if a problem can be properly formulated and measurement data can be generated, whether it arises in physical, biological, social sciences or any other discipline, statistical tools can be designed to provide a scientific solution. thus, it is widely recognized that the proper use of statistics is a key element of scientific enquiry. at this stage let me emphasize that quality and integrity of data is the most important element in the success and utility of statistics. uses of statistics 11. let me give some examples of its uses. it plays a critical role in agriculture in deciding the plant varieties, combination of fertilizer, pesticides, densities, soil qualities, and growth of output. india ’ s statistics exploration started with anthropological experiment. without the use of statistics, business and economics cannot make proper planning and policy. performance measurement in education, including iq, is a statistical construct. use of statistics in psychological behaviour is known as psychometry. examination of climate change and environmental studies are effectively statistical data analysis of weather and environment. one of the simple applications of statistics is to estimate the number of fish in a pond, using random sampling and suitable statistical ( hypergeometric ) distribution. does the data support genetic theories of inherited characteristics? what is the pattern of rainfall? what are the important risk factors for heart disease? any marketing strategy is based on some statistical sample study. is education attainment related to income and health? the duckworth - lewis method implemented in limited over cricket is a statistical method. i can keep on giving examples. misuses of statistics 12. but since its beginning, statistics has also been misused and there has been considerable debate about how to understand or respond to the misuse of statistics. after all, who hasn ’ t heard of the famous phrase : “ there are three kinds of lies : lies, damned lies and statistics ”, which is variously attributed to benjamin disraeli, alfred marshall, mark twain and many others. to understand what is meant by “ misusing statistics, ” it is important to describe the role of statistics in the scientific method and relate the concept of “

with asia has increased from us $ 29 billion in 2000 - 01 to us $ 91. 5 billion in 2005 - 06, comprising exports at us $ 47. 2 billion and non - oil import at us $ 44. 3 billion. • total trade with the asean ( exports plus non - oil imports ) has increased manifold from us $ 6. 7 billion in 2000 - 01 to us $ 21. 1 billion in 2005 - 06. india's exports to the asean region stood at us $ 10. 5 billion and imports at us $ 10. 6 billion during 2005 - 06. • india has become a formal dialogue partner of asean, and is keen to expand its participation in southeast asian and asia - wide institutions. similarly, india's trade with saarc countries which presently stands at about at us $ 6. 7 billion has vast scope to expand further. • in order to boost regional trade and investment, india has entered into comprehensive economic cooperation agreements / trade agreements with several countries including china, japan, korea, singapore, thailand, maldives, bhutan, bangladesh, nepal, sri lanka and regional blocks such as asean. • mr. raymond lim, singapore's minister of transport and second minister of foreign affairs, in his article " creating globally connected asian community " which appeared in the june 2006 issue of finance and development of the imf notes : " the rise of china and india will redefine regional divisions of labour and trade and help the southeast asian economies take off on a new and higher growth trajectory. china and india will bring asia into the center of the global economy. ….. the rise of china and india is helping asia to not only grow but to become more integrated. "