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By: [ Editor ] Asked from United States of America

How do I read the Eve Markets website?

More specifically, take a case study and look up "Hammerhead I" under Eve Markets. Underneath the scrolling ticker for the top 100 market products is a column for "BUY" and "SELL". Underneath each are figures for the min. and max., the standard deviation, and the volume. My understanding is that the figure given in the cell labeled either "BUY" or "SELL" is the median (NOT the mean or the average but specifically the median) between the min and max for each.

  1. Is that correct?

Next, in the third column, the top cell gives the overall median price between buy and sell figures, but beneath that, a corresponding percentage of base price is given. Although so indicated, the actual percentage often (as in this example) does not accurately work out to corresponding with the base price given under the info column on the far right of the screen. Nor do either of those totals seem to correspond with either "Total per unit" figure given under the industry tab.

  1. Shouldn't the base price correspond with at least the manufacturing total per unit, and if not then why?
  2. Shouldn't the median price's percentage of base cost correspond with the base price listed, and if not then why?
  3. Finally, either incorporating or going above and beyond the questions already asked, can someone explain the interrelationship of these listed metrics?

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nathan cox
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Can we have a link to the site?

mymindisglowing
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Sure. I’ve added it above just after the words “Eve Markets”, per your request.

mymindisglowing
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Rollback note: really, I just wanted my rollback badge, but also, no commentary on the edits means I don’t know what was changed, so I learn nothing, except I saw the link was taken out. Not sure why?

mymindisglowing
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Also, how come I’m not getting the bounty option on this question? What do I have to do to get it?

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2 answers

  • 1

ecaf ersa [ Editor ]

OK I had a look around at the figures on the site and your questions.

First question - is median correct?

If you mean is the average figure shown the median then yes it is. If you mean should we use median over mean then again the answer is yes.

If you look at the min figure for buy of 9.9 and the max figure for sell of 90,100,000.01 you have to ask if you want these orders factored in your calculations and deliberations as to whether to handle a certain item or not?

Surely not if you are interested in making or trading the item "normally". Using the median omits these extreme items unless they cover over half the market in which they are no longer extreme. Including the figure of 90+ mill in this case would severely skew a mean average for no good purpose.

Question one - The base price

I think this is a attribute from when the game was first released. Various item databases on the internet would show this figure but I don't believe it has any value anymore, hence why it no longer appears in most, including Evelopedia. It can't be directly related to manufacturing cost as this is constantly fluid. I think at one point (over 4 years ago for sure) it may have been based on a kind of manufacturing cost but just seems to be some kind of benchmark now.

Question Two - percentage of base price

Nope I couldn't make any sense out of that

Question three - inter-relationship of figures

Ignoring the percentage of base price figure, which is either broken or calculated using some bizarre (probably Icelandic) math, really it is the average buy and/or sell prices you want depending on if you are trading or manufacturing.

The standard deviation figures are useful in telling you how significantly the extreme prices should be considered. The considerably lower figure of 4,558.07 for buy indicates that there are likely to be more orders around the 9.9 mark than there are sell orders around the 90 mill mark. The ludicrously high std dev of 5,577,886.81 tells you to completely ignore the max figure and that most sell orders are likely to be much more sensible.

Well I guess I didn't really give a great or comprehensive answer but I gave it a shot!

Let us know if you find out more. Could be a useful resource.

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  • 0

nathan cox [ Editor ]

Looking at it now it would appear that the buy and sell prices are labeled "min/max" with the two separated by a slash. There are two figures shown, not just one. The median in the third column is a median value which is more helpful than an average or a mean because it does not show skews that would be created by people charging ridiculous prices. Unfortunately I can't see the math of the system and the help page is not very informative. The numbers themselves are pulled directly from Eve-Central so it may be better to just look there. Alternatively there are other market websites, I strongly suggest http://www.eve-metrics.com/ although it is closing :( The replacement for it, http://eve-marketdata.com/ , is still in it's beta stages but will eventually be similar to Eve Metrics.

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