The interval is how often a monitor checks the shop. The shorter it is, the sooner you hear. A new monitor starts at the fastest your plan allows, and you can slow it down whenever you like under How often to check.
A faster speed than your plan includes shows a padlock. The slowest is once a day.
The fastest speed is right for a drop you expect to sell out in minutes. For something that comes back once in a while, every minute or every five is plenty.
If a shop starts turning a monitor's checks away, checking less often is the first thing to try, and it usually sorts it. The line under the monitor says what happened and what to do next. Troubleshooting goes through those.