The Margin of Error is a statistical term that indicates the range within which the true value of a population parameter is expected to fall. It is often expressed as a percentage and helps to understand the reliability of survey results. For example, if a poll shows that 60% of people support a candidate with a margin of error of ±3%, the actual support could be between 57% and 63%. This concept is crucial in fields like political polling and market research, where decisions are made based on sample data. A smaller margin of error suggests more precise estimates, while a larger margin indicates greater uncertainty about the results.