Final answer:
Renormalization in Quantum Field Theory is a method to remove infinite values from calculations by redefining the 'bare' parameters in the theory, resulting in finite, observable quantities. It is a cornerstone of the Standard Model and is essential in theories like quantum chromodynamics.
Step-by-step explanation:
The process of renormalization in Quantum Field Theory (QFT) is crucial for dealing with infinities that arise in calculations of physical quantities. When calculating probabilities for various physical processes using Feynman diagrams, certain integrals can diverge, leading to infinite results which are not physically meaningful. To deal with this, renormalization systematically removes these infinities from calculations by redefining the parameters of the theory, such as the masses and charges of particles, so that the predictions match experimental observations. These parameters are considered to be 'bare' parameters, and they absorb the infinities through a process of redefinition, resulting in 'renormalized' physical parameters that are finite and represent the observed quantities.
Renormalization has been a vital part of the Standard Model of particle physics, allowing it to maintain predictive power and agreement with experimental data. The procedure has deep physical implications, suggesting that physical constants are effectively scale-dependent, and that the bare versus observed properties of particles can differ due to quantum fluctuations. This concept is particularly important in theories such as quantum chromodynamics (QCD), which is part of the Standard Model and deals with the strong interactions among quarks and gluons.