Final answer:
In Scrum, the term 'Velocity' refers to the average number of story points a team has completed in previous sprints and is used to estimate future sprint capacity.
Step-by-step explanation:
The term "Velocity" in Scrum is used to describe the average number of story points completed by the development team in the past. It serves as a measurement for the team to estimate how much work they can reasonably commit to in an upcoming sprint, based on their performance in previous sprints. Velocity is a crucial metric in Scrum because it helps the team gauge their speed of project execution and improve their forecasting accuracy for future sprints.