J, will you please clarify how probability of 3rd person winning is 99/100 * 2/100.
3rd person gets two chances to guess the number, 2 numbers what 1st and 2nd person being said, but why are you multiplying it with 99/100? What is the significance of it?
Consequently I am not able understand the concept of K also. 😦
For 3rd to win, 2nd should lose (= 99/100, since 2nd guy’s winning probability is 1/100) followed by 3rd winning (2/100 since now there are 2 numbers available, those of the first and second guys). Brush up Probability (particularly conditional probability and Bayes Theorem) and then revisit this.
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