๐ The size of the effect is an important factor in statistical power.
๐ Statistical analysis aims to provide both accurate and precise estimates.
๐ข Interval estimation is used to determine the range of possible values for the impact.
๐ The precision and confidence of statistical power are influenced by the size of the effect.
๐ฏ The goal is to have precise estimations with accurate numbers and a narrow range of variability.
๐ Using the analogy of photographic images, larger effects are easier to identify with precision.
๐ Identifying a larger image is easier and provides a clearer evaluation of impact.
๐ผ๏ธ When comparing images of the same size, it is difficult to distinguish between them.
๐งฉ The closer image in the previous example is the true representation.
๐ The size of the effect plays a role in statistical power.
๐ The sample size is like the zoom of an image.
๐ฐ In microfinancing, a program with a larger effect size requires a smaller sample size.
๐ A larger effect size requires a larger sample size or more zoom to identify the effect accurately.
โ๏ธ The precision needed for a given level of accuracy depends on the expected effect size.
๐ The sample size needed is influenced by the evaluator's prior knowledge and experience.
๐ A bigger sample size is needed to detect larger effects in statistical power.
๐ Smaller effects require a larger sample size for accurate detection.
โ๏ธ The rule of thumb is that the size of the effect determines the required sample size.
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