It's really not worth paying too much attention to Alexa ranking. Alexa can only gather data from those that have their browser toolbars installed - which are mostly webmasters, designers/developers and marketers. So typically a website in the digital industry field is going to have a much better Alexa ranking than those that aren't.
You aren't able to get an accurate number of hits from a site's Alexa ranking. In relation to an Alexa traffic rank, the only data you can use to put into perspective with it's Alexa rank is the data that Alexa themselves provide. These can be seen on the info for a site. You can however upgrade to a paid plan to gather more insights but there are much more accurate platforms that can provide more worthwhile information - not that this will relate to Alexa's traffic ranking.
You can learn more on how Alexa source their information and how they get their data here.
To give you an idea though, a site with an Alexa traffic rank of 1000 will be getting tens of thousands of hits per month. Someone came up with this conversion but it's accuracy (as with anything Alexa related) is questionable. So good luck with that one!