The term "Correctly" on a PG series requires test patterns, an oscilloscope, the full service manual, and a lot of patience. If you can settle for "Close", set it by eye using a grey pattern on AVIA or Video essentials. I realize this probably does not answer your question. I used a colorimeter to adjust my white balance. Then, with the above mentioned baseline adjustments having been made, only the occasional tap on the "Kelvin" button will bring everything back into calibration. The PG has a menu that allows you to set the white and black level for each CRT. If you are not familiar with this, you might want to have a pro set up your unit once.
The NEC is a complicated beast, to be sure. Where do you live? Maybe someone near you can calibrate your set.
I have a "Board Level Training Manual" that details the steps to setting the white balance of the PG projectors. You do indeed need an oscilliscope, pattern generator, chroma meter, and the manual. Let me know if you want a photocopy, just email me.
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