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Originally Posted by SecretMaster
Well I would argue that they are not the same. At least in scientific terms they are two different things, and I really couldn't see someone using those words outside the scientific realm.
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Wow... well, how's this: I create hypothetical scenarios all the time to illustrate a point. To preface my use of hypothesis, I'd say "let's hypothetically say that.... blah blah blah". I've even used the term numerous times on IW.
I am far from unusual in this regard, and know plenty of people that do. The scientific community are hardly unique in their use of English.
As for theory, that's a widely used word: A theory in how a crime was committed. Music theory. Economic theory. It's a very common word.
A theory contains hypothesis, but has more implied factuality. It is still a kind of hypothesis nonetheless: an imagined scenario with the intent of explaining or communicating something unproven or as yet unverified. Both are conjecture, as is a guess.
So the three words, while holding differences in preciseness or emphasis, do have related meanings and are synonymous with each other.