Our Outbound Tender Volume Index (OTVI) is calculated on a seven-day moving average basis to smooth out daily volatility. Due to this, the index is distorted for the week following a national holiday, like Labor Day. This renders weekly comparisons near meaningless this week.
In a continuation from last week, the accepted tender volume level will be calculated to account for the high level of rejected tenders distorting the total volume levels. To account for that, we can use this simple formula to calculate the level of accepted tenders: OTVI * (1-OTRI) for any given day.