System and method for estimating a parameter that represents data describing a physical system

Abstract

There is provided a system and method for estimating a parameter that represents data describing a physical system. An exemplary method comprises randomizing data representative of a population of items for which the parameter is known. The method may additionally comprise generating data representative of a pseudo population of items using a known perturbation, the data representative of the pseudo population of items being included with the data representative of the population of items for which the parameter is known to form a revised population and selecting a bootstrap sample of a minimum sample size of the revised population. A sensitivity study is performed on the parameters of the items comprising the bootstrap sample to determine a level of change of a predicted parameter value relative to a parameter value of the sample. At least one of a range, a probability distribution or the minimum sample size is revised based on the parameter for items comprising the bootstrap sample to produce at least one of a revised range, a revised probability distribution or a revised minimum sample size, taking into account an effect of the known perturbation applied to the pseudo population. The steps of selecting, performing and revising are repeated until the sensitivity study indicates that the level of change of the parameter is acceptably small. A value of the parameter is estimated for the population based on a parameter corresponding to the acceptably small level of change.