The correct sequence of actions to configure telemetry for the SaaS tenant and test whether the ingested signals are displayed would be:

Create an Azure Application Insights instance by using the Azure Portal in the Customer's subscription.

Select the environment in the Admin Center and place the connection string in the Application Insights Connection String field.

Select the Application Insights instance, select Logs and then inspect the Traces table.

To set up telemetry for a SaaS tenant using Azure Application Insights, you need to follow these steps:

Create an Azure Application Insights instance: This is the first step where you create an instance in Azure that will collect the telemetry data. This should be done in the customer's Azure subscription because it's their data that you're monitoring.

Configure the SaaS tenant to use the created Application Insights instance: This involves entering the correct connection string in the Business Central Admin Center so that telemetry data from the tenant is sent to the Application Insights instance.

Verify that telemetry is being collected: After configuring, you would check if the telemetry is arriving as expected by inspecting the Traces table in the Azure Application Insights instance. The 'Traces' table holds the telemetry data, which you can query to verify that the correct signals are being ingested.