1. A method comprising the steps of: generating a measured count distribution data for neutrons emitted from a source, utilizing a defined sampling method; computing truncated statistical moments for the measured count distribution data; executing a transform function on the measured count distribution data to obtain a time-dependent parameter (lambda) space, and to generate a model count distribution; mapping probability values within the measured count distribution data to the model count distribution based on untruncated count distribution data; generating untruncated statistical moments based on the probability values; fitting an equation to a plot of the truncated statistical moments to provide at least one of a deadtime parameter, a lifetime parameter or a bias parameter, and to select one or more physical parameters of interest from the measured count distribution; performing an iterative algebraic process to compute solutions for the selected physical parameters of interest; verifying the computed solutions using parameters associated with the lambda space and the model count distribution, and generating solution estimates for the selected physical parameters if the verification reveals incorrect results for the computed solutions of the selected physical parameters; comparing the untruncated statistical moments to the truncated statistical moments; comparing the untruncated measured count distribution to the model count distribution; and comparing the solution estimates with the measured count distribution data to provide an indication of the correct solution for the selected physical parameters.