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The Wall Street Journal CEO Compensation Study analyzed chief executive officer (CEO) pay from many U.S. companies with fiscal year 2008 revenue of at least $5 billion that filed their proxy statements between October 2008 and March 2009. The data are in the file P02_30.xlsx.

a. Create a new variable Total 2008, the sum of Salary 2008 and Bonus 2008. (Actually, this is not “total” compensation because it omits the very lucrative compensation from stock options.) Also, recode Company Type so that the Technology and Telecommunications are collapsed into a Tech/ Telecomm category.

b. Find the mean, median, and standard deviation of Total 2008, broken down by the recoded Company Type. Also, create side-by-side box plots of Total 2008, again broken down by the recoded Company Type. What do the results tell you about differences in level or variability across company types?

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