How random is "RANDOM"?

[RussMartin]

I guess my question was a little broad. Let me refine it.

For example, were I to generate random intervals between 1 and 10 seconds long (inclusive) doing this:

             SEED=32771
LOOP:  	RANDOM SEED
	TIME=(SEED//10)+1
	TIME=1000*TIME
   	HIGH LED        	
       	PAUSE TIME		
             LOW LED         	
       	PAUSE 1000		
             GOTO LOOP		
             END

. . . can I expect the distributions to "look" really random? (In 100 loops, can I expect to see about 10 of each value in each category of 1 second, 2 seconds . . . 10 seconds, etc.?) And, in the sequence, will I see a discernable pattern?

In some small BASIC implementations, I've had to do the equivalent of this:

             SEED=32771
LOOP:  	RANDOM SEED
	TIME=(SEED//11)+1
	IF TIME<2 OR TIME>10 THEN GOTO LOOP
	TIME=1000*TIME
   	HIGH LED        	
       	PAUSE TIME		
             LOW LED         	
       	PAUSE 1000		
             GOTO LOOP		
             END

. . . in order to get good distributions of small numbers.