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This lecture covers the concept of random number generators on computers, focusing on the Modulo generator. It explains the difference between true random numbers and pseudo random numbers, detailing the criteria for a series of pseudo random numbers. The lecture also delves into the Modulo generator algorithm, discussing the congruential algorithm, problems associated with low-order serial correlations, and the shuffle algorithm. Additionally, it explores the combination of different series in random number generation, illustrated through an example. The instructor emphasizes the importance of achieving longer periods in random number series for better results.