context: It is probable that Fred moved to the cinema. Chances are about even that Julius is gray. It is highly unlikely that Bill left the milk.
hypothesis: Chances are about even that either Fred moved to the cinema, or Julius is gray.
valid_hypothesis: Chances are about even that either Fred moved to the cinema, or Julius is gray.
invalid_hypothesis: It is almost certain that either Fred moved to the cinema, or Julius is gray.
hypothesis_assertion: Either Fred moved to the cinema, or Julius is gray.