Centripetal acceleration is defined as v^2/r, where v represents the velocity of an object moving in a circular path and r is the radius of that path. This relationship indicates that acceleration is proportional to the square of the velocity and inversely proportional to the radius of curvature. When an object changes direction, it experiences acceleration even if its speed remains constant, as acceleration is defined as the rate of change of velocity. The discussion highlights how inertia plays a role in this acceleration, with greater speeds and tighter turns resulting in more noticeable centrifugal forces. Understanding this relationship is essential for grasping the dynamics of circular motion.