This paper proposes a method for determining electromechanical mode estimate accuracy by relating mode estimate error to residual values. Mode frequency and damping ratio were estimated using Prony analysis and residuals were calculated for a 17-machine model with varying levels of load noise. Mode estimate error and residuals were found to increase proportionally to each other as noise values were increased, revealing a distinctly linear relationship. The use of these results to develop appropriate confidence in models is discussed. With the relationship established, a method of predicting mode estimate error values based on residuals in the western North American power system (wNAPS) was developed. The potential of this method to evaluate the confidence level of mode estimates is examined.