Confidence Level

A confidence interval specifies the value of a random parameter range with a certain degree of probability (confidence level). The usual values for the confidence level are 95% for Low, 99% for Medium and 99.9% for High.

You can define the confidence level for all calculations and calculation elements in the Details > General Properties view and in the Structure view to identify the accuracy and quality of the calculation.

In FACTON the "Confidence Level" property has an inheritance logic. Defining a confidence level at the calculation (top-level) will inhere this confidence level to all subordinate calculation elements. You can change the confidence level at the subordinate calculation elements. The effective confidence level is displayed by the "CL Eff" column at each element.

Selection List "Confidence Level"

Select the confidence level from a company-own list. The list is maintained in the Master Data > Selection Lists > Confidence Level workspace.

Further Information > Manage Selection Lists