context: It is improbable that Julius is gray. Chances are about even that Fred put down the apple. It is improbable that Lily is a frog.
hypothesis: It is highly unlikely that either Julius is gray, or Fred put down the apple.
valid_hypothesis: Chances are about even that either Julius is gray, or Fred put down the apple.
invalid_hypothesis: It is highly unlikely that either Julius is gray, or Fred put down the apple.
hypothesis_assertion: Either Julius is gray, or Fred put down the apple.