The statement "X Equals 300" indicates that the variable X has a value of 300. In mathematics, variables are symbols used to represent numbers or values that can change. When we say X equals 300, we are defining the specific value of X in a given context, such as an equation or a function. This concept is often used in algebra, where equations are solved to find the value of unknown variables. For example, if we have an equation like 2X + 100 = 700, we can substitute X with 300 to check if it satisfies the equation.