The higher the confidence, the more sure one can be about the long term validity of the result. However, higher confidence levels generally require more data. Depending on your test strategy and account volume, you'll need to decide what confidence level you'd want to reach before pausing losing ads. You can use thresholds to control the confidence needed before winners are declared.
You can disable metrics that don't apply to your account. Disabling a metric means it won't show on the test result screens, so you can focus on what's most relevant to you. For example, accounts that don't set a conversion value won't need test results for conversion value/cost and conversion value/impressions.
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