1. A method for generating a model for an electronic prognostics system which is used to monitor a computer system, comprising: receiving telemetry signals generated by the computer system while the computer system is operating correctly; building the model based on the telemetry signals, wherein the model uses correlations between different telemetry signals to identify anomalies in the telemetry signals; and performing a validation operation using the model, wherein performing the validation operation comprises validating the model against monitored telemetry signals from the computer system, which involves: determining false alarms probabilities (FAPs) for the monitored telemetry signals; determining missed alarm probabilities (MAPs) for the monitored telemetry signals, wherein determining the MAPs comprises observing alarms generated by applying the model to telemetry signals generated when a computer system is degraded; comparing the FAPs and the MAPs to target values for the FAPs and the MAPs; and if the FAPs or the MAPs exceed the target values, adjusting sensitivity parameters for the model; and rebuilding the model based on the adjusted sensitivity parameters and the telemetry signals; and repeating the validation operation using the rebuilt model until FAPS and MAPs for the rebuilt model are within the target values.