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What Is the Expected Value of Sample Information

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What is the expected value of sample information?


Definitions:

Normal Approximation

A statistical method that applies the normal distribution to approximate the distribution of various sample statistics under certain conditions.

Two-Sided P-Value

The probability of observing an effect at least as extreme as the test statistic, considering both tails of the distribution in a two-sided test.

Identical Distributions

A statistical scenario where two or more probability distributions are the same across all outcomes, implying equal behavior and properties.

Wilcoxon Rank Sum Test

A nonparametric statistical test that compares two independent samples to assess whether their population mean ranks differ.

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