If you have a hope and you turn it into a verb, you'd think it would be "to hope." But what is really behind a hope? It's a desire or wish, right? That's why this word means to wish or to desire.

Since this word consists of a kanji with hiragana attached, you can bet that it will use the kun'yomi reading. You didn't learn that reading with this kanji, so here's a mnemonic to help you: Your one wish that you have is to have a bigger nose (のぞ). Feel your nose, it's too small. You wish it was two or three inches longer. Of course, if it helps to imagine you want a smaller nose or a nose at all, that's fine too. Just make sure you wish you have something nose-related.