I am learning predicate calculus. I came across this identity. $$(\forall x) P(x) \rightarrow Q ≡ \exists x (P(x) \rightarrow Q)$$ Since then I have been scratching my head. Algebraically, it can be very easily shown that the above holds but I am not able to develop correct intution for it. I took the following example to understand it better. But rather than helping me, I am more confused now.
Example
P(x): x scores more than 90%
Q: School management throws a party
Then, $(∀x)P(x)→Q$ would mean that "if all students score more than 90%, then school management will through a party."
$\exists x (P(x) \rightarrow Q)$ would mean that there exists at least one student such that if he/she scores above 90%, then school management will give party.
Both don't seem to match in their meaning. Can someone please correct me.
Question
I want help in developing intution about this identity. For this, I request you to please correct me in the example that I gave. Probably by the help of it, I will get a better idea of the identity.
As requested in a comment, I'm promoting my previous comment to an answer:
The "one student" in the $\exists$ formulation is the student with the lowest score. If that looks like cheating then you should review the definition of what it means for a sentence to be true in a structure, in particular the $\exists$ clause in that definition. It allows the witness (the $x$ in your example) to change when the structure (which includes the students' scores) changes.