What is Period Length (of RNGs)

As computer capacities and simulation technologies advance, simulation has become the method of choice for modeling and analysis. The fundamental advantage of simulation is that it can tolerate far less restrictive modeling assumptions, leading to an underlying model that is more reflective of reality and thus more valid, leading to better decisions. Simulation studies are typically preceded by transforming in a more or less complicated way of a sequence of numbers between 0 and 1 produced by a pseudorandom generator into an observation of the measure of interest. Random numbers are a fundamental resource in science and technology. A facility for generating sequences of pseudorandom numbers is a fundamental part of computer simulation systems. Furthermore, random number generators also play an important role in cryptography and in the blockchain ecosystem. All samples of the sequence are generated independently of each other, and the value of the next sample in the sequence cannot be predicted, regardless of how many samples have already been produced.