The following diagram shows a common way that scientific knowledge is discovered. mc024-1.jpg which term should replace the question mark? hypotheses theories laws publications

The common way the scientific knowledge is discovered passes through several steps:
First you observe the phenomenon around you. Then you develop a certain hypothesis based on your observation. After that you start testing your hypothesis and collecting the resultant data from your tests.
Finally comes the conclusion of whether your hypothesis is accepted or rejected. 
If it is accepted, it can further develop into a theory and a publication afterwards.

The answer is: hypothesis

The answer to this question should be a hypothesis.

You can simply make hypothesis from observation, but you can make theories or laws just like that. Theories need data, thus it should be placed below experiments and result.