Extreme Value Theorem (EVT)
Definition
The Extreme Value Theorem states that if a function is continuous on a closed interval, then it must have both a global maximum and a global minimum within that interval.
Analogy
Imagine you are running a race on a track. The Extreme Value Theorem guarantees that at some point during the race, you will reach the highest point (global maximum) and the lowest point (global minimum) of the entire track.
Related terms
Global Maximum: The highest value of a function over its entire domain.
Global Minimum: The lowest value of a function over its entire domain.
Local Maximum/Minimum: Points where the function reaches high or low values within small intervals, but not necessarily the highest or lowest values overall.
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