Bank of New York would like to determine if the average checking account balance for younger customers (under 40 years) is different from the average checking account balance for older customers (40 or more years). These data can be found in the Excel file checking accounts.xlsx.

a. Recall that testing for a difference between two population means requires an assumption about population variances. Perform a hypothesis test using a = 0.05 to determine if the population variance for the checking account balance of younger customers is greater than the variance of accounts for older customers.

b. Verify your results using Excel or PHStat.

c. Identify the p-value from part b and interpret the result.

AppendixLO1