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Default Icond Set (conditional Formatting) of Excel 2007

In Excel 2007, new feature of conditional formatting is the "icon set" in
which you can assign an icon on a particular value or range of values. i just
what to know how does the default condition of icon set work? by default,
excel is using the 67% and 33% but i want to know 67% of what or 33% of what?
how did they compute for that? i tried many ways but i cant get it. i hope
someone can enlighten my confused mind. thanks!

^_^
 
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