What Is The Monty Hall Problem

First of all, Let's Make a Deal was a real show that appeared on real-world televisions and featured real people competing for real prizes, so the question seems to answer itself.

That said, the Monty Hall problem is a heavily simplified example of the types of problems anyone faces when making decisions under uncertainty. Analogous problems arise in poker, trading, corporate finance, and any other situation where you have to make decisions and then revise them as more information comes in.

Of course, the actual Monty Hall game is trivial -- anyone who knows about conditional probability can figure out the correct answer by doing a straightforward calculation. The point is that a particular "solution" you might try in order to simply the