I want to draw something like this:

This is my code:
\documentclass{article}
\usepackage[usenames,dvipsnames]{xcolor}
\usepackage{tikz}
%\usepackage[active,tightpage,floats]{preview}
%\setlength\PreviewBorder{30pt}%
\usetikzlibrary{calc, fit, shapes.geometric}
\pgfdeclarelayer{background}
\pgfdeclarelayer{foreground}
\pgfsetlayers{background,main,foreground}
%\colorlet{MAROON}{Maroon}
\begin{document}
\begin{figure}[ht]
\centering
\begin{tikzpicture}
\coordinate (Origin) at (0,0);
\coordinate (XAxisMax) at (5.5,0);
\coordinate (YAxisMax) at (0,4.5);
\coordinate (Ylow) at (-0.5,0);
\coordinate (Xlow) at (0,-0.5);
\coordinate (XMax) at (5.5,-0.5);
\coordinate (YMax) at (-0.5,4.5);
\draw [thick, darkgray] (Origin) -- (XAxisMax);% Draw x axis
\draw [thick, darkgray] (Origin) -- (YAxisMax);% Draw y axis
\draw [thick, darkgray!40, -latex] (Xlow) -- (XMax);% Draw x axis
\draw [thick, darkgray!40, -latex] (Ylow) -- (YMax);% Draw y axis
\foreach \x in {1,2,...,10}{% Two indices running over each
\foreach \y in {1,2,...,8}{% node on the grid we have drawn
\node[thick,draw,circle,inner sep=2pt,fill=gray!60, name=circle-\x-\y] at (0.5*\x,0.5*\y) {};
% Places a dot at those points
}
}
\begin{pgfonlayer}{background}
\node (B) [draw, color=BrickRed, fill=red!30, rectangle, rounded corners, fit={(circle-1-1) (circle-10-1)}] {};
\end{pgfonlayer}
\begin{pgfonlayer}{background}
\node (A) [draw, color=BrickRed, fill=red!30, rectangle, rounded corners, fit={(circle-1-5) (circle-10-8)}] {};
\end{pgfonlayer}
\node[align=center, below] at (2.75,0) {$i$};
\node[align=center, left] at (0,2.25) {$j$};
\node[align=center, left] at (-0.5,2.25) {Data\\domain};
\node [above] at (A.north) {$k = N -1$};
\coordinate (bb1) at (circle-10-1);
\node [above right of = 5pt] at (bb1) {$BB1$};
\end{tikzpicture}
\caption{Bounding boxes for convex union of data regions}
\label{figure:single}
\end{figure}
\end{document}
I am not put right side content properly. (for example, I have tried putting BB1, but it is not coming at proper location). And how to use different size and style of code like used here for path[k][j]?
This is my output:




fontkey on the pgfmanual (16.4.2 Text Parameters: Font). – Claudio Fiandrino Feb 10 at 15:56