In simple english what is the methods of moment estimator technique all about.

[RufusDawes]

1. The problem statement, all variables and given/known data

There is no question I want to know what it actually means in basic english.

2. Relevant equations

u = sum E(x)/n = ehat

3. The attempt at a solution

The parameter average is the method of moments estimator. I don't know what any of this means. Please help.

[vela]

The example in Wikipedia may help.

http://en.wikipedia.org/wiki/Method_of_moments_(statistics)