Logical arguments generally take the form of an "if-then" statement or a series of such arguments. These statements have a clause that typically begins with the word "if" and a second clause that typically begins with the word "then." The statement you have given fits this pattern.
In such statements, the clause that starts with "if" is the hypothesis. In the statement you have given, the hypothesis is "if you are not in school." The conclusion is the other clause of the statement. In this case, the conclusion is "then you are at home."
Those two clauses are the hypothesis and the conclusion, regardless of whether the conclusion is actually true, which in this case it is not.