X-axis: 5 mean the single board count in the X-direction; Y-axis: 2 mean the single board count in Y-direction. You should fill in the sheet with: 5 x 2 individual borads per panel.
We do not have the dimensions of a standard panel. But unless necessary, for PCB best quality control and pricing, we recommend the panel length or width is between 5 to 12.5 inches.