In an imaginary contest, seven people have the chance to win a car. Out of seven keys, one will start the car. The players take turns, each selecting a key and trying it in the car. When a player chooses the correct key, he or she wins the car and the contest is over.
Does each player have an equal chance of winning? Isn't it unfair that some players might not even get to choose?
Note: This is only a GAME. We are not giving away any car.
Each player has an equal chance (one in seven) of winning. One way to look at this is to consider two types of risk each player faces:
Performance risk: the risk of choosing a wrong key. It is basically probability.
Opportunity risk: the risk of not getting the chance to choose a key.
These risks balance each other. Early players have high performance risk and low opportunity risk. Later players have high opportunity risk and low performance risk because some keys have been eliminated before they choose.
When you play the game, the specific opportunity risk and performance risk for each player are displayed in tabular form.
It is coded by Saksham Nanda. (Full stack developer).