context: We believe that Bill dropped the milk. It is certain that Julius is gray. It is probably the case that Bernhard is a frog. We doubt that if Bill dropped the milk, or Bernhard is a frog, then Greg is green. There is a very good chance that if Julius is gray, or Bernhard is a frog, then Mary moved to the office. It is probable that if Bill dropped the milk, and Julius is gray, then Brian is a lion.
hypothesis: Chances are about even that either Julius is gray, or Brian is a lion.
valid_hypothesis: Chances are about even that either Julius is gray, or Brian is a lion.
invalid_hypothesis: It is highly unlikely that either Julius is gray, or Brian is a lion.
hypothesis_assertion: Either Julius is gray, or Brian is a lion.