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Tightened the inequality following Peter Mueller's comment.
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A quadratic or cubic polynomial (in two variables) can have at most one strict local minimum. A quartic polynomial can have up to five strict local minima [1]. So, how many strict local minima can a quintic polynomial have?

For quadratic and cubic polynomials, the possibility of having two strict local minima can be ruled out by evaluating the polynomial along the line connecting the two hypothetical minima. This however does not apply to polynomials of a higher order.

Denote $d$ the degree of a polynomial and $m$ ($n$) its number of nondegenerate local maxima (minima). Bézout's theorem implies that $m+n+s\leq (d-1)^2$, where $s$ is the number of nondegenerate saddles. Proposition 2What is more, by Corollary 6.5 from9 in [2] gives us that $m+n-s\leq \max(1,d-3)$. Combining the two inequalities we conclude, $$m+n \leq \frac{(d-1)^2 + \max(1,d-3)}{2}.$$$$m+n \leq \tfrac 1 2 d^2 -d+1.$$

By varying $d$, we can observe the following:

  • Quadratic polynomial: With $m+n\leq 1$, there is at most one local extremum.
  • Cubic polynomial: For this, $m+n \leq 2$. However, as noted earlier, at most one of these two potential local extrema can be a local minimum.
  • Quartic polynomial: Here, $m+n\leq 5$, and it is possible for all five potential local extrema to be local minima, as demonstrated here: Can a real quartic polynomial in two variables have more than 4 isolated local minima?
  • Quintic polynomial: In this case, $m+n\leq 9$$m+n\leq 8$.

Can all of the 98 potential local extrema of a quintic polynomial be of the minimum type, similar to the quartic polynomial case?

A quadratic or cubic polynomial (in two variables) can have at most one strict local minimum. A quartic polynomial can have up to five strict local minima [1]. So, how many strict local minima can a quintic polynomial have?

For quadratic and cubic polynomials, the possibility of having two strict local minima can be ruled out by evaluating the polynomial along the line connecting the two hypothetical minima. This however does not apply to polynomials of a higher order.

Denote $d$ the degree of a polynomial and $m$ ($n$) its number of nondegenerate local maxima (minima). Bézout's theorem implies that $m+n+s\leq (d-1)^2$, where $s$ is the number of nondegenerate saddles. Proposition 2.5 from [2] gives us that $m+n-s\leq \max(1,d-3)$. Combining the two inequalities we conclude $$m+n \leq \frac{(d-1)^2 + \max(1,d-3)}{2}.$$

By varying $d$, we can observe the following:

  • Quadratic polynomial: With $m+n\leq 1$, there is at most one local extremum.
  • Cubic polynomial: For this, $m+n \leq 2$. However, as noted earlier, at most one of these two potential local extrema can be a local minimum.
  • Quartic polynomial: Here, $m+n\leq 5$, and it is possible for all five potential local extrema to be local minima, as demonstrated here: Can a real quartic polynomial in two variables have more than 4 isolated local minima?
  • Quintic polynomial: In this case, $m+n\leq 9$.

Can all of the 9 potential local extrema of a quintic polynomial be of the minimum type, similar to the quartic polynomial case?

A quadratic or cubic polynomial (in two variables) can have at most one strict local minimum. A quartic polynomial can have up to five strict local minima [1]. So, how many strict local minima can a quintic polynomial have?

For quadratic and cubic polynomials, the possibility of having two strict local minima can be ruled out by evaluating the polynomial along the line connecting the two hypothetical minima. This however does not apply to polynomials of a higher order.

Denote $d$ the degree of a polynomial and $m$ ($n$) its number of nondegenerate local maxima (minima). Bézout's theorem implies that $m+n+s\leq (d-1)^2$, where $s$ is the number of nondegenerate saddles. What is more, by Corollary 6.9 in [2], $$m+n \leq \tfrac 1 2 d^2 -d+1.$$

By varying $d$, we can observe the following:

  • Quadratic polynomial: With $m+n\leq 1$, there is at most one local extremum.
  • Cubic polynomial: For this, $m+n \leq 2$. However, as noted earlier, at most one of these two potential local extrema can be a local minimum.
  • Quartic polynomial: Here, $m+n\leq 5$, and it is possible for all five potential local extrema to be local minima, as demonstrated here: Can a real quartic polynomial in two variables have more than 4 isolated local minima?
  • Quintic polynomial: In this case, $m+n\leq 8$.

Can all of the 8 potential local extrema of a quintic polynomial be of the minimum type, similar to the quartic polynomial case?

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How many strict local minima can a quintic polynomial in two real variables have?

A quadratic or cubic polynomial (in two variables) can have at most one strict local minimum. A quartic polynomial can have up to five strict local minima [1]. So, how many strict local minima can a quintic polynomial have?

For quadratic and cubic polynomials, the possibility of having two strict local minima can be ruled out by evaluating the polynomial along the line connecting the two hypothetical minima. This however does not apply to polynomials of a higher order.

Denote $d$ the degree of a polynomial and $m$ ($n$) its number of nondegenerate local maxima (minima). Bézout's theorem implies that $m+n+s\leq (d-1)^2$, where $s$ is the number of nondegenerate saddles. Proposition 2.5 from [2] gives us that $m+n-s\leq \max(1,d-3)$. Combining the two inequalities we conclude $$m+n \leq \frac{(d-1)^2 + \max(1,d-3)}{2}.$$

By varying $d$, we can observe the following:

  • Quadratic polynomial: With $m+n\leq 1$, there is at most one local extremum.
  • Cubic polynomial: For this, $m+n \leq 2$. However, as noted earlier, at most one of these two potential local extrema can be a local minimum.
  • Quartic polynomial: Here, $m+n\leq 5$, and it is possible for all five potential local extrema to be local minima, as demonstrated here: Can a real quartic polynomial in two variables have more than 4 isolated local minima?
  • Quintic polynomial: In this case, $m+n\leq 9$.

Can all of the 9 potential local extrema of a quintic polynomial be of the minimum type, similar to the quartic polynomial case?