A seminar on Statistical Methods for Business & Economics Research held at Pir Mehr Ali Shah Arid Agriculture University Rawalpindi here on Monday.

The seminar was organized by University Institute of Management Sciences (UIMS) with the objective to provide an opportunity for research students and faculty members to get an insight of fundamentals of statistics and advance analytical techniques which would help them in their research endeavors.

On the occasion, PMAS-AAUR, Vice chancellor Prof. Dr. Rai Niaz Ahmed was Chief guest at the Seminar. Keynote speakers were Prof. Dr. Asad Zaman (Vice chancellor Pakistan Institute of Development Economics) and Prof. Dr. Eatzaz Ahmed (Ex. Vice chancellor, QAU & currently Prof of Economics, International Institute of Islamic Economics).

Prof. Dr. Rai Niaz Ahmed while addressing highlighted the importance of conducting research on relevant issues. He emphasized that as Agriculture sector is backbone of Pakistan's economy therefore management scholars must conduct research on how to ameliorate condition of poor farmers.

Prof. Dr. Asad Zaman's lecture was about the quest of truth and knowledge being the ultimate aim of a researcher's endeavors. He gave several references of Holy Quran and Sunnah to prove that human beings have an innate capacity to apply logic. However, he warned against manipulation of mathematical equations to prove a western theory, if such a theory bears no significance towards how human beings can better themselves and lead more peaceful lives.

Prof. Dr. Eatzaz Ahmed also spoke about the importance of framing research questions with care. He discussed at length the mistake of interpreting equation parameters without understanding the implicit assumptions of the mathematical technique being applied.

Summing up the lectures of keynote speakers, Dr. Farida Faisal, Director, UIMS reminded students that learning correct application of statistical tools and  aligning analytical techniques with carefully chosen topics would ensure meaningful research in field of economics and business.