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by SAI_Peregrinus 748 days ago
Each resistor in the design is a range. The designer picks the tolerance to use, some resistors will be fine with a 10% tolerance, others only with a 2% or 1% tolerance.

Also each resistor is a range, not a single value, since each resistor changes value with temperature & other environmental factors (though temperature is the biggest). That variation is (for normal resistors) less than the tolerance range.