Full-Bridge Rectifier.
9V 60Hz source.
We want a smoother output. A capacitor in parallel with the load helps that.
The capacitor is chosen so that R_Load x C >> 1/f, or C >> 1/R_Load x f = 16.6 μF here.
We select a value 10x larger, so 170μF.
Increasing the capacitance (e.g up to 1mF) will produce an even smoother output.
Follows Full Bridge Rectifier: https://everycircuit.com/circuit/6073208297750528
The ripple voltage can be estimated as:
ΔV = I_Load / 2fC
Here, I_Load = 7.2 mA more or less, f = 60Hz and C = 170μF, so ΔV = 0.35V.
The voltmeter says Min/Max are 7.02 and 7.3V here, so ΔV = 0.28V. Fair enough.