Meaning of the word "margin of error" in English

What does "margin of error" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

margin of error

US /ˈmɑːr.dʒɪn əv ˈer.ɚ/
UK /ˈmɑː.dʒɪn əv ˈer.ə/
"margin of error" picture

Noun

an amount (usually small) that is allowed for in case of miscalculation or change of circumstances

Example:
The survey has a margin of error of plus or minus three percent.
In this high-stakes mission, there is no margin of error.