I vaguely remember seeing somewhere that the conditional expectation $E(Y|X)$ can be interpreted as projection of random variable $Y$ onto random variable $X$. My question is:
Is the aforementioned interpretation that "$E(Y|X)$ is the projection of random variable $Y$ onto random variable $X$" correct? If yes, in what sense it's a projection?
If 1 is correct, how is this projection related to the projection onto subspace we see in basic linear algebra class? For example, define a subspace $V$ spanned by the column vectors of $A$ as $V=span\{A\}$, then the projection of a vector $x$ onto $V$ will be $A(A^{\top}A)^{-1}A^\top x$. What are the corresponding "$A$", "$V$" and "$x$" in the conditional expectation case?