  We determine the uncertainties on observables arising from the errors on the
experimental data that are fitted in the global MRST2001 parton analysis. By
diagonalizing the error matrix we produce sets of partons suitable for use
within the framework of linear propagation of errors, which is the most
convenient method for calculating the uncertainties. Despite the potential
limitations of this approach we find that it can be made to work well in
practice. This is confirmed by our alternative approach of using the more
rigorous Lagrange multiplier method to determine the errors on physical
quantities directly. As particular examples we determine the uncertainties on
the predictions of the charged-current deep-inelastic structure functions, on
the cross-sections for W production and for Higgs boson production via
gluon--gluon fusion at the Tevatron and the LHC, on the ratio of W-minus to
W-plus production at the LHC and on the moments of the non-singlet quark
distributions. We discuss the corresponding uncertainties on the parton
distributions in the relevant x,Q^2 domains. Finally, we briefly look at
uncertainties related to the fit procedure, stressing their importance and
using sigma_W, sigma_H and extractions of alpha_S(M_Z^2) as examples. As a
by-product of this last point we present a slightly updated set of parton
distributions, MRST2002.
