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The Calan/Tololo supernova survey has discovered ~30 Type Ia supernovae outto z~0.1. Using BVI data for these objects and nearby SNe Ia, we have shownthat there exists a significant dispersion in the intrinsic luminosities ofthese objects. We have devised a robust chisquare minimization techniquesimultaneously fitting the BVI light curves to parametrize the SN event as afunction of (tb,m, m15(B)) where tb is the time of B maximum, m is the peak BVImagnitude corrected for luminosity variations, and m15(B) is a single parameterdescribing the whole light curve morphology. When properly corrected form15(B), SNe Ia prove to be high precision distance indicators,yielding relativedistances with errors 7-10%. The corrected peak magnitudes are used toconstruct BVI Hubble diagrams (HD), and with Cepheid distances recentlymeasured with the HST to four nearby SNe Ia (37C, 72E, 81B, 90N) we derive avalue of the Hubble constant of 63.1+/-3.4 (internal) km/s/Mpc. This value is~10-15% larger than the value obtained by assuming that SNe Ia are perfectstandard candles. As we have shown in Paper V, there is now strong evidencethat galaxies with younger stellar population appear to host theslowest-declining, and therefore most luminous SNe Ia. Hence, the use of Pop Iobjects such as Cepheids to calibrate the zero point of the SNe Ia HD caneasily bias the results toward luminous SNe Ia, unless the absolutemagnitude-decline relation is taken into account.Comment: 32 pages, figures attached, all tables available, to appear in the  Astronomical Journa

The Hubble Diagram of the Calan/Tololo Type IA Supernovae and the Value of HO