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

[RufusDawes]

Homework Statement

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

Homework Equations

u = sum E(x)/n = ehat

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 )