Defining Bill Factor Variance Parameter Values

Open Main Menu, Rates, BF Variance Parameter Values to maintain variance parameter bill factor values.

Note: Variance Parameter Bill Factor values must reference a bill factor and characteristic. You must set up a bill factor and its characteristics before you can define variance parameter values. Refer to Setting Up Bill Factors for more information.

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.