Method of Moments
just started an undergrad Stats course and im having trouble understanding the Method of Moments theorem... Ive looked everywhere and whilst there are definitions on wikipedia etc, I find them tough to completely comprehend.
Any insight would be massively appreciated. Also, if anyone knows a decent statistics website that explains these things i would be grateful.
Anyway here is the question:
"Let X1 , . . . , Xn be a random sample from a Geom (θ) distribution, where θ is a single unknown
parameter. State the value of E(X ; θ) and hence find the method of moments estimator of the
unknown parameter θ."
Now i know that E( X;theta) is 1/theta but i dont know where to go from there....
The Method of Moments says that the mean of the n observations is assumed to be a reasonable estimate for the mean of X.
Originally Posted by sebjory