allows you to change the amount of delay over the length of the audio file
Delay Time: in milliseconds.
Mix Level: The dry is the volume of the input signal and the wet is the volume of the delayed signal, in percent. Varies from 0 to 100. If Mix Depth = 0 result signal isn't contain delayed signal. If Mix Depth = 100 result signal isn't contain input signal. Other values of Mix Depth are combination of the dry and the wet (wet = 100 - dry).
FeedBack: Feed Back Gain sets how much delay is feed back to the input. Varies from 0 to 100.
How to use
-Left-click-and-drag on the select a portion of the audio
-Click Effects menu and select Delay
Tip: Delay is an echo effect that replays what you have played one or more times after a period of time.
It's something like the echoes you might hear shouting against a wall.