From time to time, we receive emails from our customers asking what parameter estimation methods are implemented in EasyFit to carry out distribution fitting. When designing EasyFit, we were striving for a good balance between the accuracy and speed of calculations. That is why we decided to use the Method of Moments (MOM) for those models that allow for easy use of this method. Some examples of such distributions include the Chi-Squared, Exponential, two-parameter Gamma, and Logistic models. However, for many other distributions, the Method of Moments does not yield closed form expressions for parameter estimates, and in such cases EasyFit uses the Maximum Likelihood Estimation (MLE) method. In addition, for some distributions used in specific industries, such as the Wakeby model, EasyFit employs the Method of L-Moments (LMOM). You can find a detailed list of supported distributions and estimation methods used on our website.
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