Getting some more: Statistics

Carl Sjostrom, an expert in executive compensation statistics, discusses the importance of using statistics to find benchmarks for salaries. He explains the concepts of average salaries, percentiles, and skewness, as well as the influence of extreme data points. Additionally, he explores the concept of median compensation and the impact of sample composition on compensation levels. He also discusses the choice of representative individuals in data analysis and the use of plots to visualize data distribution. Lastly, he emphasizes the importance of considering market dynamics and individual performers in pay policies.