Parameter and Parametric Space

The working mechanism of a human body is a complex biophysical process. This can be used as a metaphor for the term population that is frequently used in Statistics.  Population is unknown and so is this complex biophysical system of human body. Several parameters governing this process are thus called population parameters. To completely describe this biophysical system with equations, we require values of these population parameters. This system is not solely deterministic and chance factor also governs some aspect of this system. This chance factor can be explained by a probability distribution based on values of population parameters. These population parameters can take different values from the parametric space, which are related to the state of wellbeing of an individual. For a realistic description of randomness of functioning of human body, multiple parameters can play a vital role. These are described by a multidimensional parametric space. Through sample and its data collection, we try to find a realistic sample estimate of these unknown population parameters. We aim to choose estimators that are unbiased, consistent and efficient. We will discuss in detail with an example, tomorrow in this BLOG.