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Some design engineers that make electronic circuits specify tolerances in the resistors because a resistor that is too out of spec would not operate properly. A resistor with a brown band I believe is within 20%, a black is 10%, and gold is 5%.

So if a resistor is rated at 3000 ohms, depending upon the band, it can vary a certain percentage. Resistors with the gold band I believe are called "precision resistors".

The more "precision" the resistor is, the more it costs. To keep costs low, tolerances are sometimes included to alert the assembler that a precision resistor may not be necessary. For instance if a value of 3000 ohms can be within 20% then a cheap resistor may be used and is not critical in the circuit.

The tolerances are introduced in manufacturing of resistors because practically, we can achieve 100% correct resistance. So, a tolerance range is indicated to make aware the users to select the proper resistor according to their application.

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