All continuous functions on closed interval [a, b] form a vector space. The functions in this space are the vectors. However what is the physical significance of the norm of a vector in this space? For example if we found the norm of a function is 1/3 what does this signify? Does it dependent on the inner product used to define the norm?

Say if the inner product is the integral over [a, b] does this mean that the norm is related to the area?