A spin-stabilized spacecraft is designed to rotate around one of its principal axes. However, geometric factors such as products of inertia, and environmental factors such as external disturbance torques can cause the spacecraft to precess. In this thesis, Linear Covariance Analysis is implemented to quantify how the coelevation angle of a spacecraft relates to normally distributed variations in a set of a geometric and enviromental input parameters. Further, a Matlab software tool for implementing Linear Covariance Analysis on Simulink computer models is presented.