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Strictly speaking, there can't be a formula for generating truly random numbers - which by definition follow no law.

You can use pre-generated sequences of random numbers stored in tables (an old but very easy-to-implement method if one day you have to quickly write something of your own), and you can use a (true-)random number generator or a pseudorandom number generator.

Hardware based random-number generators can involve the use of a dice, a coin for flipping, or many other devices. A pseudo-random number generator is an algorithm for generating a sequence of numbers whose properties approximate the properties of sequences of random numbers.

Example Algorithm for Pseudo-Random Number Generator Accept some initial input number, that is a seed or key. Apply that seed in a sequence of mathematical operations to generate the result. ... Use that resulting random number as the seed for the next iteration. Repeat the process to emulate randomness.

The main idea here is we take an integer, square it, and then use the middle part of that integer as our next random integer, repeating the process as many times as we need. To generate the Uniform(0,1) random variable, we would divide each generated integer by the appropriate power of ten.

If you want to use RAND to generate a random number but don't want the numbers to change every time the cell is calculated, you can enter =RAND() in the formula bar, and then press F9 to change the formula to a random number. The formula will calculate and leave you with just a value.

1. Middle square method (MSM) Start with an n-digit number as the seed. Let's say it's a 2-digit number 42. Square it. Here, the square of 42 is 1764. Extract the middle n-digits of the squared number to get the next number in our sequence. ... Use the result as the seed and repeat steps 1-4 for the next cycle.