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							Find the Kth Smallest Element in a List
								Certification: Intermediate Level
								Accuracy: 90.91%
								Submissions: 11
								Points: 5
							
							Write a Python function to find the Kth smallest element in a given list of integers.
Example 1
- Input: nums = [7, 10, 4, 3, 20, 15], K = 3
- Output: 7
- Explanation: - Step 1: Sort the list [7, 10, 4, 3, 20, 15] in ascending order: [3, 4, 7, 10, 15, 20].
- Step 2: Find the element at index K-1 (since indexing starts at 0): element at index 2 is 7.
- Step 3: Return 7 as the 3rd smallest element.
 
Example 2
- Input: nums = [1, 2, 3, 4, 5], K = 1
- Output: 1
- Explanation: - Step 1: Sort the list [1, 2, 3, 4, 5] in ascending order: [1, 2, 3, 4, 5].
- Step 2: Find the element at index K-1 (since indexing starts at 0): element at index 0 is 1.
- Step 3: Return 1 as the 1st smallest element.
 
Constraints
- 1 <= len(list) <= 10^5
- 1 <= K <= len(list)
- -10^9 <= list[i] <= 10^9
- Time Complexity: O(n log n) or better
- Space Complexity: O(n)
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Solution Hints
- Sort the list and return the Kth element: sorted_list = sorted(lst); return sorted_list[K-1]
- Use a min-heap to efficiently find the Kth smallest element: import heapq; heapq.nsmallest(K, lst)[-1]
- Handle edge cases where K is out of bounds or the list is empty.
