The latter represents a choice between any number of possible interpretations, none of which may have a standard agreed-upon meaning.
ðə lˈæɾɚ ɹˌɛpɹᵻzˈɛnts ɐ tʃˈɔɪs bᵻtwˌiːn ˌɛni nˈʌmbɚɹ ʌv pˈɑːsᵻbəl ɪntˌɜːpɹɪtˈeɪʃənz, nˈʌn ʌvwˈɪtʃ mˌeɪhɐv ɐ stˈændɚd ɐɡɹˈiːdəpˌɑːn mˈiːnɪŋ.