Defining Bill Factor Variance Parameter Values
Open Main Menu, Rates, BF Variance Parameter Values to maintain variance parameter bill factor values.
Description of Page
The BF Characteristic Variance Parameter Group search button gives you the ability to search for existing Variance Parameter BF values for a Bill Factor, Characteristic and Variance Parameter Group combination.
The BF Characteristic search button gives you the ability to search for a Bill Factor, Characteristic combination to which the Variance Parameter values will be linked.
Once a bill factor and characteristic combination are chosen, the system displays the values of the Bill Factor, Characteristic Type, Characteristic Value and Value Type.
Choose the Variance Parameter Group to determine the collection of Variance Parameter to which prices will be defined.
Indicate the Effective Date of the collection of Variance Parameter and their Values.
Where Used
Various rate component algorithms make use of Variance Parameter value information. This information is also available for any type of algorithm that may need to use the information, for example interval data derivation algorithms.