Winning games requires more than just the ability to score points, but also teamwork, mental strength, and consistency. Each team's home advantage is estimated based on the difference in performance when at home and on the road. Ratings and schedule strength both depend on where the games are played. The difficulty of each team's schedule is measured in the Sched column. It depends on the quality of each opponent, adjusted for the homefield advantage.
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Note that the schedule strength only represents games played to date. Hence, I publish an estimated standard deviation. A conference's rating is determined by averaging the ratings of its members. The Parity column measures how well matched the teams in a conference are. A value of 1 indicates perfect parity - there is complete balance from top to bottom.