Defining Confidence Levels
The Confidence Levels form enables you to define your own set of confidence levels. To call up this form:
During Datafile setup:
Click on the Confidence Levels button on the Parameters page of the Datafile Setup form.
Use menu call Setup Menu/Confidence Levels.
Number of Levels
A confidence level scale can have up to 12 levels. Use the up/down arrows at the top of the form to select the number of levels you want. The form will expand or contract as required.
It is useful to include an Exact Value level, or equivalent notation, with zero variances so that you can conveniently remove variances when exact costs become available.
You may name each level in any convenient fashion, e.g. Level A, Level B, etc.
Insert negative and positive percentage values to represent the variance limits associated with each confidence level. Do not type the % symbol when entering data. Low limit values must be negative or zero, high limit values must be positive or zero.
Changing the Confidence Scale
If you change the confidence level definitions after having used them to specify cost variances, the changes will not be reflected in cost data stored in your datafile. If you wish to change existing cost data you must do so manually.