Step 1: The compound has both a double bond and a triple bond, so we need to identify the positions of the double and triple bonds. The IUPAC naming rules state that the lowest set of locants should be used for the multiple bonds.
Step 2: The correct location for the double and triple bonds in this compound is at positions 2 and 4, respectively. The correct stereochemistry of the double bond is \( (E) \), which refers to the trans configuration of the substituents.
Step 3: Hence, the correct IUPAC name is \( {(E)-2-hepten-4-yne} \).