Final answer:
The statement is false; the term 'intercept' usually refers to the y-intercept, which is where the line crosses the y-axis, not the x-axis.
Step-by-step explanation:
The statement that the intercept is where the least squares regression line crosses the x-axis is false. The term 'intercept' in the context of a linear equation typically refers to the y-intercept, unless specifically mentioned otherwise. The y-intercept is the point at which the regression line crosses the y-axis of the graph.
In the linear equation y = mx + b, the 'b' represents the y-intercept and the 'm' represents the slope of the line. The y-intercept indicates the value of y when x is zero. In contrast, the point where the line would cross the x-axis corresponds to the x-intercept, which can be found by setting y to zero and solving for x.