I want a column to become either RED or GREEN depending on different choices in another column

SO.. This is kinda advanced I think? I'm kinda bad at this and doesnt know where to start.

I want the column "Inställelsetid" to become either RED or GREEN depending on different choices AND the calculated value.

I'll explain my setup:

Column "Ärende inkommet" and "Ärende påbörjat" is just a textcolumn with date and time i've pasted in. Column "Inställelsetid" is a calculated column whitch contains this formula: "=TEXT([Ärende påbörjat]-[Ärende inkommet];"h:mm:ss")" and its calculating the value.

IF I have choosen LSP or MSP in the beginning of the list I want the column "Inställelsetider" to become RED if its over 2 hours and GREEN if its under 2 hours.

IF I have choosen HSP in the beginning of the list I want the column "Inställelsetider" to become RED if its over 1 hour and GREEN if its under 1 hour.

Is this possible?