context: It is highly unlikely that Bill is in the school. Chances are about even that John picked up the apple. It is highly unlikely that Greg is yellow.
hypothesis: Chances are about even that either Bill is in the school, or John picked up the apple.
valid_hypothesis: Chances are about even that either Bill is in the school, or John picked up the apple.
invalid_hypothesis: There is almost no chance that either Bill is in the school, or John picked up the apple.
hypothesis_assertion: Either Bill is in the school, or John picked up the apple.