-NOTE- Compensation may only become a factor when an attenuation of 10X is used!
Set attenuation switch on probe to 10X.
Attach the probe tip to the PROBE COMP 5V connector and the ground lead accordingly on the front of the oscilloscope. Turn on the channel, and then press AUTOSET.
Check the shape of the displayed wave form.
If shape is an exact square wave, then compensation is not required.
If shape has rounded corners there is Undercompensation.
If shape has spiked corners then there is Overcompensation.
For Overcompensation and Undercompensation problems there is an adjustment knob at the connecting end of the probe that can be rotated to correct the problem.
For more information on different type of probes or more detail see:
http://www.tek.com/Measurement/App_Notes/XYZs/complete_system.pdf
For more information on probe compensation see:
http://www.tek.com/Measurement/App_Notes/XYZs/operation.pdf