Time to Hire?

Summary

Does anyone know how Average Time to Hire is calculated?

Content

Hi there

Wondering if anyone knows how the seeded reporting field "Average time to hire (days)" is calculated? 

I'm assuming it's all days, and not just business days? 

Also, does anyone know what it measures to and from? e.g. from application submitted date to offer accepted? Or moved to Hired in the system? 

Thanks!