So far I've been defining by individual unit speeds as a float.
So Velocity = Speed * Time;
Time = TimeDelta = the time it took to go through the frame

But I am getting into equations that is looking for a VELOCITY VECTOR
I am curious as to exactly what that is...I mean other than the obvious.

Is it simply a vector I use to define speed so in other words (1,0,1)...
Is it the numbers used to move 1 unit forward on any angle (some sin, cos of the x,z values)? Those numbers are used multiplied by the velocity above to get the new position.