How do you incorporate prior information and Bayesian methods in your power analysis?
Power analysis is a crucial step in planning and designing scientific research, as it helps you determine the optimal sample size and the probability of detecting a meaningful effect. However, traditional power analysis methods often rely on assumptions and parameters that are uncertain or unknown, such as the effect size, the variance, or the prior distribution of the data. How can you incorporate prior information and Bayesian methods in your power analysis to overcome these limitations and improve your inference?