To a noob,
without a math background, or a calculator handy, this info is useless.
I will try to simplify this with probably some error which will quickly be brought to light.
Your hull speed is sometimes referred to as a theoretical hull speed. I think its based on flat water. When you are moving forward, your bow creates a wake or wave.
As your speed increases, so does the wave in both height and length. When this wave becomes long enough say from top of wave to top of wave, when the tops are one on the bow end and one on the stern end, at this speed is your theoretical hull speed. If you exceed (and you can) the theoretical hull speed, the top of the wave in the stern becomes further apart from the top of wave on the bow. This will move your stern down, which in turn will make your bow rise. This squatting position will take lots more power to move the boat. If you are being towed faster than your theoretical hull speed, the tow line will yank down on your raised bow, pull you in front of your own wave and now bury your bow. This cycle will keep repeating itself and thus the term porpoising.
For all intents and purposes, all a new-be has to know is that on an average 25 footer, the theoretical hull speed will be around 5.5 knots. On a 30 footer it will be around 6.0 to 6.3 knots.
The reason that a race boat is faster than a average boat is that the shape of the hull is more streamlined and the boat is lighter and that means the boat can reach theoretical hull speed FASTER, but not necessarily be any faster over all.
There are lots of other variables, but this is the simple version.
I hope when others correct me, they can do it in english that a noob can understand.
Thanks
Tony B