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Delay time is not an observable quantity, but is a function of the depth to a refracting horizon and of the velocities of propagation along the refractor and through the overlying media. The intercept time associated with a refracted wave is composed of two delay times, one at the energy source and the other at the detector. If the velocity of the overlying section is known, then by properly partitioning the intercept time into its two delay times, it is possible to obtain relatively accurate depths to the refractor.

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