Define the term 'method validation.'

Method validation is a crucial component in analytical chemistry that involves establishing the reliability and accuracy of a particular analytical procedure. This process ensures that the method can produce consistent results that are acceptable for its intended purpose, which may include regulatory compliance, research, or quality control.

When validating a method, several key parameters are assessed, including specificity, sensitivity, accuracy, precision, detection limit, quantitation limit, range, and robustness. Each of these factors plays a role in determining whether the method is suitable for its intended application, ensuring that results produced are trustworthy and reproducible.

In contrast, developing new techniques, verifying reagents, or evaluating costs do not encompass the broad scope and critical nature of demonstrating an analytical method's performance and suitability for its intended use, which is the central focus of method validation. Therefore, the process of proving an analytical method’s acceptability is essential for ensuring the integrity of analytical results in various fields ranging from pharmaceuticals to environmental testing.