Velocity represents the amount of work a team delivers in a Sprint. E.g. if backlog items are estimated in story points, velocity is measured in StoryPoints/Sprint
Scenario: The organization is preparing for a show which is going to take place in 6 months. At this show, they want to demonstrate their best capabilities which include a unique piece of software. A Scrum Team is working on the solution, they deliver 80 story points per Sprint, on average. Their Minimum Viable Product (MVP) which they would like to use at the show, consists of a set of (not yet delivered) Product Backlog items with a sum of 450 story points. Will they make it?