Tuesday, August 08, 2006

ART : Art of Presentation (American Economy) :
A great Economist said (name forgotten) ; -`There are three types of statistics -Lie. Big lie and Damn lie`.
Let me now tell you a story to help my substance; In a remote village in poor Bengal of early 20th Century there were only ten families, not only poor but almost starving (a famine-time). One daring young man from that family went to the West and came back,15 years after, a multi-millionaire.
The villagers were all happy, excited and the school teacher of arithmetic of that village calculated and reported to the Village-head and proud villagers that per-capita income of that village was now very very high as each family had an income of about 10 lacs /per family/per year.
Though the other nine families were still starving ,the Village Economist did not agree on on the poverty of others on ground of scientific report.
*( I read a thesis some when and found a line : `-the result of a statistical outcome depends on the way one poses a problem and arranges information.)

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