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.
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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