Question about the NASDAQ and bid/ask quotes.?

Question

I have a quick question about bid/ask quotes on websites with live quotes. For example, on Yahoo! Finance, for nVidia Corporation I saw:

Bid: 11.82 x 4800

Ask: 11.83 x 12500

I now know what bid and ask are (thanks to the other people who answered my first question) but are the volumes after the bid and ask prices just what some random person bought or sold at that moment (since they change constantly)? Thanks.

Answer 1

The bidder out there at 11.82 is good for up to 4800 shares

The offering out there at 11.83 is good for up to 12500 shars

Answer 2

The volume beside the quote is the size at that price. It means that there are buy orders at the 11.82 for a total of 4800 shares and there are sell orders at 11.83 for a total of 12500 shares.