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The regression model Y= b0 + b1*X1 + b2*X2 +
b3*X1*X2 + e has an interaction term. - FALSE

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The presence of a significant interaction
indicates that the effect of one predictor variable on the response
variable is different at different values of the other predictor
variable. It is tested by adding a term to the model in which the two predictor variables are multiplied. but here in the above equation we see that it is a basic linear regression model equation without any interaction term.