The estimated total audited value of the population using the difference method  is $201,000.
The difference method works as follows :
A difference method is a mathematical expression of the form
f (x + b) − f (x + a). If a finite difference is divided by b − a, one gets a difference quotient.
Given that,
A population of 1,000 accounts . Â
The sample items have a mean book of $200 and
A mean audited value of $203 Â
Therefore, the difference of $203 - $200 = $3 Â
Now, Apply the difference to the population of accounts and we get,
(1000 account × $3) = $3000
As Given in the question,
The book value in the population is $198,000 and we add the difference previously calculated of $3,000 Â
So, we have = $198,000 + $3,000
           = $201,000 Â
Learn more about Book Value:
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