My first instinct was full edit-distance DP and I started going down that road before they steered me away from it.
Start by clarifying the problem and edge cases, then propose a linear time solution that handles the three edit types by comparing string lengths and scanning for the first difference. Walk through the algorithm step-by-step, and analyze time and space complexity.
Pro tip: Mention that this problem is a simplified version of edit distance and that your solution runs in O(n) time and O(1) space, which is optimal. Also, relate it to real-world applications like spell checkers or DNA sequence alignment to show practical insight.
Ask if the strings can be empty, if they are case-sensitive, and confirm that exactly one edit means the strings are not equal but differ by one operation. Discuss edge cases like length difference greater than 1.
If length difference > 1, return false. If lengths are equal, check for exactly one substitution by scanning and counting mismatches. If lengths differ by 1, check for exactly one insertion/deletion by scanning with two pointers.
Choose a representative example (e.g., 'cat' and 'cut' for substitution, 'cat' and 'cats' for insertion) and trace the algorithm to demonstrate correctness.
State that the time complexity is O(n) where n is the length of the shorter string, and space complexity is O(1) since only a few variables are used.
Mention that this approach is optimal for the given problem. For multiple edits, a dynamic programming approach would be needed, but that would be overkill here.
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