Step 1: Analyzing the second derivative condition.
The second derivative \( f''(t)>0 \) implies that the function \( f(t) \) is concave up for all \( t \). This means:
- The curve is bent upwards everywhere.
- Any critical point of \( f(t) \) (where \( f'(t) = 0 \)) is a local minimum.
Step 2: Checking each option:
From Option (1):
This is a wrong statement. Since \( f(t) \) is concave up everywhere, it must have at least one local minimum at a critical point.
From Option (2):
This is a correct statement. The function \( f(t) \) can have multiple distinct local minima depending on its behavior. For example, a function can have two or more minima in different intervals.
From Option (3):
This is a wrong statement. Since \( f''(t)>0 \), there can be no local maxima because the curve does not bend downward at any point.
From Option (4):
This is a wrong statement. The minimum value of \( f(t) \) depends on its definition and can be negative. For instance, the function \( f(t) = t^2 - 10 \) has a negative minimum value.