How should I read `for i in range(5)` in plain English?

Think of the pattern as `for item in collection:`. It means: take one item from the collection, put it in the variable named `item`, and perform the indented action; then repeat for the next item. Here, `i` is just a variable name, and `range(5)` supplies five numbers. You could write `for number in range(5):` and it would mean the same thing.

For a beginner, you can mentally expand the line like this: `for i in [0, 1, 2, 3, 4]:`. Python takes each value in turn, assigns it to `i`, and executes the indented block. `range(5)` is not literally a regular list in modern Python, but it behaves like a sequence of those values for the purpose of the loop. Also, the `print` line needs to be indented so Python knows it belongs to the loop.

A natural way to say it is: “For each value produced by `range(5)`, assign that value to `i`, then run the indented code.” `range(5)` produces the values 0, 1, 2, 3, and 4, so the loop runs five times. In this particular example, `i` isn’t used, so the result is simply printing "hello" five times.