Determine the vertex of a quadratic in vertex form and determine max or min

The video tutorial explains the quadratic equation y = X^2 and its transformations, including shifts and vertical stretches. It details how these transformations affect the graph's vertex, moving it from (0, 0) to (-1, 3). The video also discusses the graph's appearance and confirms that the vertex is an absolute minimum point.

What is the significance of the vertex in the context of the graph's transformations?

Is the vertex of the transformed graph an absolute maximum or minimum? Justify your answer.