Quick and Easy Power Analysis for Choice Experiments
Four clients have asked about this topic in the past month, so perhaps it's worth a post. It turns out that there is a quick way to use Lighthouse Studio to do power analysis for choice-based conjoint experiments.
Say for example that a client wants a choice-based conjoint experiment with four 3-level and one 2-level attributes. The client plans to show each respondent 10 tasks each with two alternatives and a none and wants to know what sizes of significant coefficients (utilities) the design will be able to detect (at a given level of confidence and power). To answer the client’s questions, follow these four steps: