This document discusses two methods for finding the maximum and minimum values in an array: the naive method and divide and conquer approach. The naive method compares all elements to find the max and min in 2n-2 comparisons. The divide and conquer approach recursively divides the array in half, finds the max and min of each half, and returns the overall max and min, reducing the number of comparisons. Pseudocode is provided for the MAXMIN algorithm that implements this divide and conquer solution.