- #1
bobsmith76 said:
The purpose of finding local extreme values is to identify the highest (maximum) and lowest (minimum) points in a given data set. This can help us understand the overall trend and variability of the data, as well as identify any potential outliers or abnormalities.
Local extreme values can be calculated by finding the critical points, which are the points where the derivative of the function is zero or undefined. These points can then be evaluated to determine if they are maximum or minimum values.
Local extreme values refer to the highest and lowest points within a specific interval or region, while global extreme values refer to the overall highest and lowest points of the entire data set. Local extreme values can be found by examining the critical points, while global extreme values require evaluating the entire data set.
Yes, local extreme values can change over time if the data is dynamic and continuously changing. For example, if the data represents stock prices, the local extreme values may shift as the market fluctuates.
Identifying local extreme values can provide valuable insights for decision making. For example, if the data represents sales figures, knowing the local maximum values can help determine the most profitable products or time periods, while knowing the local minimum values can help identify potential areas for improvement.
