Follow the following steps to set up the project and install the dependencies:

1. Create a new binary project named sample_rand, and enter the directory:

      cargo new --bin sample_rand && cd sample_rand

2. Install the cargo-edit tool that allows you to add and remove dependencies by modifying your Cargo.toml:

      cargo install cargo-edit

3. Install the rand dependency:

      cargo add rand

4. cargo add crate_name automatically adds the latest version of the dependency to the Cargo.toml file.
5. Install the dependency by running the following command:

      cargo run

6. This step will print hello world as output, as we have not yet made any modifications to the source code.