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.
Let T1 be the time between a car accident and reporting a claim to the insurance company. Let T2 be the time between the report of the claim and payment of the claim. The joint density function of T1 and T2, f(t1, t2), is constant over the region 0 < t1 < 6, 0< t2 < 6, t1 + t2 < 10, and zero otherwise. Determine E[T1 + T2], the expected time between a car accident and payment of the claim.