Question

how are hypotheses and theories related

Answer 1

Hypotheses lead to theories. Someone suspects that poking their eye will lead to pain, they poke their eye it leads to pain, they do tons of research, publish oodles of papers and state finally and conclusively that poking the front of your eye (more than the sclera) causes pain. The sharper the object or more force applied to the poke, the greater the pain involved. This latter idea is the theory, the "educated guess" at the start, is the hypothesis.