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The hours of operation in the schedule set isn't used anywhere in the model, so you don't need to set it. It is there so it can be used through the API in OpenStudio measures.
Feel free to change schedule values to match the operating hours and load levels for your building. You can copy these schedules and reassign them to new schedule sets, or make entirely new ruleset schedules. You can copy, edit, and make schedule rulesets in the schedules tab from your image above.
These schedules are fractional (except for activity level, which is fixed), and apply to the load value you have set in your spaces or space types load definitions.