action_id	user_id	product_type	shoe_size	action	action_created_at	amount	ipo_supply
4697	1	black	12	IPO bid	(19-01-22 18:30:29)	$ 50	65
4942	5	black	12	IPO bid	(19-01-22 17:43:08)	$ 100	65
4924	14	black	12	IPO bid	(19-01-22 17:42:02)	$ 96	65
4723	24	black	12	IPO bid	(19-01-25 01:12:50)	$ 50	65
4763	30	black	12	IPO bid	(19-01-25 01:19:58)	$ 55	65
4615	32	black	12	IPO bid	(19-01-22 18:39:23)	$ 50	65
4818	34	black	12	IPO bid	(19-01-24 16:45:59)	$ 60	65
4922	50	black	12	IPO bid	(19-01-24 10:24:54)	$ 88	65
4974	52	black	12	IPO bid	(19-01-23 06:05:16)	$ 100	65
5021	61	black	12	IPO bid	(19-01-22 18:08:18)	$ 101	65
5036	62	black	12	IPO bid	(19-01-23 01:29:26)	$ 111	65
4999	68	black	12	IPO bid	(19-01-25 01:33:44)	$ 100	65
5098	70	black	12	IPO bid	(19-01-25 03:07:26)	$ 175	65
5080	71	black	12	IPO bid	(19-01-23 00:37:01)	$ 150	65
5171	79	black	12	IPO bid	(19-01-23 20:16:33)	$ 300	65
5175	81	black	12	IPO bid	(19-01-22 18:27:39)	$ 310	65
5188	83	black	12	IPO bid	(19-01-23 04:00:01)	$ 1,000,000	65
4510	179	black	12	IPO bid	(19-01-22 18:07:02)	$ 50	65
5038	577	black	12	IPO bid	(19-01-23 19:19:13)	$ 112	65
5122	629	black	12	IPO bid	(19-01-25 01:24:11)	$ 200	65
5133	632	black	12	IPO bid	(19-01-22 17:57:29)	$ 205	65
4699	780	black	12	IPO bid	(19-01-22 18:39:07)	$ 50	65
4869	881	black	12	IPO bid	(19-01-22 21:44:29)	$ 75	65
4900	1291	black	12	IPO bid	(19-01-24 06:06:38)	$ 80	65
5145	1603	black	12	IPO bid	(19-01-25 02:03:53)	$ 240	65
4754	2239	black	12	IPO bid	(19-01-22 22:33:28)	$ 55	65
4842	2388	black	12	IPO bid	(19-01-22 22:22:44)	$ 70	65
4895	2449	black	12	IPO bid	(19-01-22 17:35:51)	$ 80	65
4990	2629	black	12	IPO bid	(19-01-25 01:43:12)	$ 100	65
5024	3111	black	12	IPO bid	(19-01-25 01:05:14)	$ 102	65
4791	3165	black	12	IPO bid	(19-01-22 17:36:26)	$ 60	65
4690	3265	black	12	IPO bid	(19-01-22 17:35:43)	$ 50	65
4618	3292	black	12	IPO bid	(19-01-22 19:19:42)	$ 50	65
4651	3328	black	12	IPO bid	(19-01-22 18:49:37)	$ 50	65
4525	3334	black	12	IPO bid	(19-01-24 17:21:30)	$ 50	65
4653	3426	black	12	IPO bid	(19-01-24 16:31:03)	$ 50	65
4797	3607	black	12	IPO bid	(19-01-23 01:23:59)	$ 60	65
5193	3634	black	12	IPO bid	(19-01-23 04:11:27)	$ 66	65
4847	3672	black	12	IPO bid	(19-01-23 02:41:38)	$ 70	65
4879	3712	black	12	IPO bid	(19-01-23 01:42:47)	$ 75	65
4918	3766	black	12	IPO bid	(19-01-22 17:05:57)	$ 87	65
4860	3885	black	12	IPO bid	(19-01-22 17:52:26)	$ 75	65
5029	3960	black	12	IPO bid	(19-01-25 03:14:08)	$ 106	65
4505	4290	black	12	IPO bid	(19-01-22 17:37:00)	$ 50	65
4506	4291	black	12	IPO bid	(19-01-22 17:44:48)	$ 50	65
4507	4292	black	12	IPO bid	(19-01-22 17:52:01)	$ 50	65
4508	4293	black	12	IPO bid	(19-01-22 17:52:42)	$ 50	65
4509	4294	black	12	IPO bid	(19-01-22 17:53:01)	$ 50	65
4511	4295	black	12	IPO bid	(19-01-22 18:18:25)	$ 50	65
4512	4296	black	12	IPO bid	(19-01-22 18:24:35)	$ 50	65
4513	4297	black	12	IPO bid	(19-01-22 18:24:48)	$ 50	65
4514	4298	black	12	IPO bid	(19-01-22 18:47:27)	$ 50	65
4515	4299	black	12	IPO bid	(19-01-22 19:00:12)	$ 50	65
4516	4300	black	12	IPO bid	(19-01-22 19:02:16)	$ 50	65
4517	4301	black	12	IPO bid	(19-01-22 19:09:49)	$ 50	65
4518	4302	black	12	IPO bid	(19-01-22 19:12:49)	$ 50	65
4519	4303	black	12	IPO bid	(19-01-22 19:32:30)	$ 50	65
4520	4304	black	12	IPO bid	(19-01-23 00:14:34)	$ 50	65
4521	4305	black	12	IPO bid	(19-01-23 01:37:53)	$ 50	65
4522	4306	black	12	IPO bid	(19-01-23 09:27:26)	$ 50	65
4523	4307	black	12	IPO bid	(19-01-23 20:45:26)	$ 50	65
4524	4308	black	12	IPO bid	(19-01-24 16:34:35)	$ 50	65
4526	4309	black	12	IPO bid	(19-01-24 18:29:44)	$ 50	65
4527	4310	black	12	IPO bid	(19-01-24 19:09:36)	$ 50	65
4528	4311	black	12	IPO bid	(19-01-24 22:31:45)	$ 50	65
4529	4312	black	12	IPO bid	(19-01-24 22:35:24)	$ 50	65
4530	4313	black	12	IPO bid	(19-01-25 01:01:49)	$ 50	65
4531	4314	black	12	IPO bid	(19-01-25 01:05:05)	$ 50	65
4532	4315	black	12	IPO bid	(19-01-25 01:06:22)	$ 50	65
4533	4316	black	12	IPO bid	(19-01-25 01:19:37)	$ 50	65
4534	4317	black	12	IPO bid	(19-01-25 01:21:59)	$ 50	65
4535	4318	black	12	IPO bid	(19-01-25 01:26:56)	$ 50	65
4536	4319	black	12	IPO bid	(19-01-25 01:41:07)	$ 50	65
4537	4320	black	12	IPO bid	(19-01-25 01:56:06)	$ 50	65
4538	4321	black	12	IPO bid	(19-01-25 02:40:16)	$ 50	65
4539	4322	black	12	IPO bid	(19-01-22 17:35:59)	$ 50	65
4540	4323	black	12	IPO bid	(19-01-22 18:06:51)	$ 50	65
4541	4324	black	12	IPO bid	(19-01-22 18:13:42)	$ 50	65
4542	4325	black	12	IPO bid	(19-01-22 18:39:13)	$ 50	65
4543	4326	black	12	IPO bid	(19-01-22 18:41:57)	$ 50	65
4544	4327	black	12	IPO bid	(19-01-22 18:59:02)	$ 50	65
4545	4328	black	12	IPO bid	(19-01-22 20:42:12)	$ 50	65
4546	4329	black	12	IPO bid	(19-01-22 20:42:30)	$ 50	65
4547	4330	black	12	IPO bid	(19-01-22 23:37:33)	$ 50	65
4548	4331	black	12	IPO bid	(19-01-24 07:46:34)	$ 50	65
4549	4332	black	12	IPO bid	(19-01-24 16:24:15)	$ 50	65
4550	4333	black	12	IPO bid	(19-01-25 01:07:01)	$ 50	65
4551	4334	black	12	IPO bid	(19-01-25 01:23:41)	$ 50	65
4552	4335	black	12	IPO bid	(19-01-25 01:26:29)	$ 50	65
4553	4336	black	12	IPO bid	(19-01-25 01:29:01)	$ 50	65
4554	4337	black	12	IPO bid	(19-01-25 01:55:03)	$ 50	65
4555	4338	black	12	IPO bid	(19-01-25 04:09:22)	$ 50	65
4556	4339	black	12	IPO bid	(19-01-25 04:45:04)	$ 50	65

1. what is the market clearing price

2. add row to the data that shows the consumer surplus generated for each of the bidders that

3. compare the mean and median amount of the consumer surplus generated for each consumer. Why is the mean so much higher? what was the bidder thinking? what would be a better way to calculate the mean

4. if the slides would have retail for $70 how much extra surplus was generated by the auction