How to use my multimeter to assessment my outlet? I have a multimeter. I want to testing to see if my...

I have a multimeter. I want to testing to see if my outlet is putting out the right amount of power. I already know that I have to set the meter to voltage (the one next to a V and a ~). My question is, does it really business where I put the needles into the outlet (I enjoy a three prong outlet)?

P.S. What exactly is the third prong used for? I know it's for grounding, but how does the third prong accomplish this?
Answers:    The ground is connected back to the ground buss at the electrical panel. If you have an old wash machine, right to be heard, that had feeble & frayed wiring inside of it, and a frayed hot lead inside touched part of the metal chassis, it would trip the breaker fairly than energizing the machine & allowing current to flow through a character that might happen to be preference against it.

If you put the leads of your meter into the flats (doesn't issue which way near alternating current), you'll read 110 VAC (or so). If you then put one organize into the ground, and the other into one of the two flats, you'll either grasp nothing (that's the white neutral) or 110 VAC (that's the black hot wire).
Make sure the dial is set for 500 v. It doesn't situation what side of the plug you put the pins into,You should get 110v on the meter, The 3rd prong is the ground terminal This is what is wired into the box, it is any bare copper or green.