context: It is unlikely that Greg is a swan. It is probably not the case that Bernhard is gray. It is almost certain that Jessica is a wolf. We doubt that if Bernhard is gray, or Greg is a swan, then Julius is a frog. It is unlikely that if either Greg is a swan, or Bernhard is gray, then Julie is in the kitchen. Chances are about even that if either Greg is a swan, or Bernhard is gray, then Jason is bored.
hypothesis: It is almost certain that either Bernhard is gray, or Greg is a swan.
valid_hypothesis: It is probably not the case that either Bernhard is gray, or Greg is a swan.
invalid_hypothesis: It is almost certain that either Bernhard is gray, or Greg is a swan.
hypothesis_assertion: Either Bernhard is gray, or Greg is a swan.