Statistical Power Analysis:
The main objective of power analysis is to allow you to decide,
(a) Sample size needed to facilitate statistical decisions that are precise and reliable
(b) Likelihood of your statistical test to detect effects of a given size in a particular condition.
These can be decided while in the process of designing an experiment.
Conducting power analysis and sample size estimation is a critical feature of experimental design. Without these computations, sample size may be on either extreme. If sample size is too low, the experiment will lack the accuracy to give consistent answers to the questions. If sample size is too large, time and resources will be of waste, often for minimal gain.
In some statistical power analysis software programs, a number of analytical tools are available to facilitate accurate assessment of the factors affecting power and sample size in most of the statistical analyses we commonly come across. This information can be critical to the study design that is cost-effective and scientifically constructive.
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