Write a Python function named is_palindrome that checks whether a passed string is a palindrome or not. A palindrome is a word, phrase, or sequence that reads the same backward as forward. Return True if it is a palindrome, False otherwise.
Example 1:
Input: is_palindrome('racecar')
Output: True
Example 2:
Input: is_palindrome('hello')
Output: False
To check if a string is a palindrome, compare the string with its reversed version.
def is_palindrome(word):
return word == word[::-1]
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