Answer
The given statement is false and the correct statement is\[\left( 7\times {{10}^{5}} \right)+\left( 2\times {{10}^{-3}} \right)=7.00000002\times {{10}^{5}}\].
Work Step by Step
Simplify the expression on the left-hand side to obtain,
\[\begin{align}
& \left( 7\times {{10}^{5}}+2\times {{10}^{-3}} \right)=7\times 100000+2\times 0.001 \\
& =700000+0.002 \\
& =700000.002
\end{align}\]
Now, obtain scientific notation of the deduced result,
\[700000.002=7.00000002\times {{10}^{5}}\]
Hence, the provided statement is false.