Wherever there is risk, there are opportunities for actuaries. And the recent financial crisis has further highlighted the skills actuaries bring to the table. Watch this new Actuaries in Action video to hear what some of today's actuaries say about the future of the profession and the increasing demand for actuaries, especially in nontraditional roles.
An actuary models the lifetime of a device using the random variable Y = 10X0.8, where X is an exponential random variable with mean 1 year. Determine the probability density function f (y), for y > 0, of the random variable Y.