Solution
The LabVIEW Random Number (0 - 1) function produces numbers seeded by the system clock. When generating random numbers, a "seed" is a starting number that initializes a random number generator. Refer to [External] Random Seed for a more detailed explanation of seeds.
The numbers produced are evenly distributed between 0 and 1, excluding the number 1. The algorithm is based on the use of multiple Multiplicative Congruential Generators (MCGs), also known as Lehmer Generators. Refer to [External] Lehmer Random Number Generator for a detailed explanation of how MCGs work.
This implementation improves the frequency of occurrence of values towards the extremes of the distribution. It has a periodicity of 6.95 * 10^12 random numbers before the cycle repeats.
A detailed explanation of the algorithm can be found in "An Efficient and Portable Pseudo-random number generator", Applied Statistics 31 (1982), 188-190 by B.A. Wichmann and I.D. Hill.