premise: A man enjoys a distant rainbow sinking over the ocean. hypothesis: A man stands on the beach watching a beautiful rainbow form over the sea.
neutral: A man can enjoy rainbows in general even when he is not watching one.  One who stands some other place can be watching a rainbow as well as one who stands on the beach. The rainbow might be too distant to be beautiful. An ocean is large and unbounded, unlike a sea which is enclosed by land.