The RAND function in Excel generates a random real number between 0 and 1. It is widely used for simulations, cryptography, and probability-related calculations. Knowledge Booster: 1. Use *=RAND()100 to generate numbers between 0 and 100. 2. For integers, combine with INT or ROUND functions. 3. SUM and AVERAGE are for aggregating values. 4. VLOOKUP is used for searching and retrieving data.
