premise: Honest Ed's was a landmark discount store located in Toronto, Ontario, Canada. It was named for its proprietor, Ed Mirvish, who opened the store in 1948 and oversaw its operations for almost 60 years, until his death in 2007. The store continued in operation until it was permanently closed on December 31, 2016.
hypothesis: Ed Mirvish was known as "Honest Ed".
reason: It seems likely that would be his nickname, but it is not actually stated, only inferred because it seems logical. It is difficult because it makes obvious sense, but we actually have no idea, it could be just marketing.