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Hypothesis is:
1. A supposition or explanation (theory) that is provisionally accepted in order to interpret certain events or phenomena, and to provide guidance for further investigation. A hypothesis may be proven correct or wrong, and must be capable of refutation. If it remains unrefuted by facts, it is said to be verified or corroborated.
2. Statistics: An assumption about certain characteristics of a population. If it specifies values for every parameter of a population, it is called a simple hypothesis; if not, a composite hypothesis. If it attempts to nullify the difference between two sample means (by suggesting that the difference is of no statistical significance), it is called a null hypothesis.
3. In every day talk it can be called a hunch or a guess but this is not backed up by any data or good reasoning.
Refer to Business Dictionary for more information.
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