Errors in multimeter measurements are primarily calculated based on the tolerances of the components used in the device, such as resistors and custom integrated circuits, which are chosen to balance cost and accuracy. These errors can be systematic, arising from calibration processes and manufacturing tolerances, rather than purely random. Calibration against a known standard, often with a significantly lower error margin, is essential for maintaining accuracy in measurements. While random errors can occur, especially in sensitive measurements, most multimeter errors are systematic and can be quantified through initial design specifications and testing. Understanding these factors is crucial for interpreting the accuracy of multimeter readings effectively.