The outer bullseye is worth 25; the inner bullseye is 50.
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A function has a "local minimum point" at a point p where there exists at least one positive number e having the property that the value v of the function for any point q for which the absolute value of q - p is greater than 0 but not greater than e, the value of the function at q is greater than or equal to the value at p.
A point on a graph, when all nearby points have a smaller value, is called a maximum.
A global minimum is a point where the function has its lowest value - nowhere else does the function have a lower value. A local minimum is a point where the function has its lowest value for a certain surrounding - no nearby points have a lower value.