Determining lat/lon uncertainties after georeferencing

Discussion created by lunargisnoob on Mar 12, 2014
So this is my first ever post and first time using ArcMap -- please be gentle.

Using ArcMap I have georeferenced a raster image using a 1st order transformation. I've got residuals for all of my control points and a total RMS error.

I've selected a point on my raster image and determined a latitude and longitude.  What sort of uncertainties can I report for this latitude and longitude, given the residuals and total RMS?

Thanks for your time.