How is Form Conversion Rate been calculated

Can anyone help me understand how the form conversion rate been calculated in the Landing Page Activity for Date Range report in Insight? Trying to figure out the conversion rates been measured in this report, so that we can properly interpret the results from below. Thank you in advance!
Landing page Activity for Date Range in Insight   
Landing Page
Total Visits (by visitor)
Total Page Views
Total Visitors
Average Page Time
Total Form Submissions
Form Conversion Rate
my.learning.com/forms
381
422
375
0:09:25
28
100.00%
Transition | LP
18
28
17
0:05:53
2
100.00%
GoCool.html
17
18
14
0:13:09
56
77.78%
Summer Training 2015 Confirmation | EMAIL
21
34
14
0:08:15
22
57.89%
events.Training.com/forms/ISContactUs
27
57
25
0:05:29
21
45.65%

Thanks so much for your detailed reply!
I checked into "Landing Page Activity for Date Range" report again and accidently hovered over "Form Conversion Rate"; it displayed the formula as "Total Form Submissions / Total Form Views". I added that metric to the report and saved locally. Now the Form Conversion Rate does equal to the calculation of Total Form Submissions / Total Form Views; data copied below. However, that formula is different from the one specified in the "Insight_ReportDetails_Guide", which is "Total Submits / Total Page Views").
Now, here comes the new questions for your help/ideas/suggestions -
    - How come in our "Landing Page Activity for Date Range", the formula for Form Conversion Rate is different from the one listed in "Insight_ReportDetails_Guide"?
    - Can we change it to use this formula: Total Submits / Total Page Views?
    - Which one indeed is the correct calculation for Form Conversion Rate in "Landing Page Activity for Date Range" report?
Landing Page
Total Visits (by visitor)
Total Page Views
Total Visitors
Total Form Views
Total Form Submissions
Form Conversion Rate
Landing Page 1
5
6
5
6
0
0.00%
Landing Page 2
58
86
56
3
3
100.00%
Landing Page 3
14
15
13
15
2
13.33%
Landing Page 4
16
17
16
0
0
0.00%
Landing Page 5
66
144
55
143
1
0.70%
Landing Page 6
21
47
20
45
1
2.22%
Landing Page 7
24
25
13
25
6
24.00%
Landing Page 8
12
13
12
13
3
23.08%
Landing Page 9
31
37
27
6
6
100.00%
Landing Page 10
24
33
21
31
4
12.90%
Thank you very much!
Xuan

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