EDIT 2: Figure it out! The red knob together with the sweep time adjustments is for calibration
Err, no it's not. The red knob has a detent position all the way clockwise. At that position the timebase is supposed to be calibrated. Same for the channel gain red knobs.
Any other position, is variable, ie the scope timebase/gain is uncalibrated. It's useful for lining up traces with the graticule to judge proportional amplitudes of waveform features. But in 'uncal' mode you can't use the graticule to measure absolute amplitude/time.
For accurate calibration, you need an external known signal. As mentioned by others that 'cal' output is really only for adjusting probe compensation.
Nice scope btw. Have fun!
A little further comment on the "Uncalibrated" mode:-
This comes up a lot with people buying their first analog Oscilloscope.
The Uncalibrated setting is,for working Techs,one of the most useful functions of such a 'scope.
As TerraHertz so correctly points out,it enables us to easily compare amplitudes of different parts of signals.
Say we want to express one voltage as a percentage of another one.:-
We could measure both, then grab a calculator & work it out,--OR--we could adjust the larger one to represent 100% & read percentage directly off the scale.
Many test procedures,particularly in TV Broadcasting used special graticules,either physically placed in front of the screen,or "Projected".
These had "reference points"for
both time & amplitude,which rarely coincided with the calibrated settings & had to be set in the "Uncalibrated" position.