If a set contains fewer vectors than there are entries in the vectors, then the set is linearly independent: False.
In Mathematics and Euclidean Geometry, a vector typically comprises two points. First, is the starting point which is commonly referred to as the "tail" and the second (ending) point that is commonly referred to the "head."
Generally speaking, there exist a set which consists of fewer vectors than there are entries in the vectors, that is linearly dependent, rather than being independent. For exampe, a set that is composed of two (2) vectors in which one of the vectors is a scalar multiple of the other vector.
Additionally, the following set of the single vector
is made up of two (2) entries, but it is not linearly independent.
In conclusion, we can logically deduce that given sentence is a false statement.