Average velocity is calculated as the total distance traveled divided by the total time taken over a specific interval. In contrast, instantaneous velocity refers to the speed and direction of an object at a specific moment, akin to what a speedometer displays. On a displacement-vs-time graph, average velocity is represented by the slope of a line segment connecting two points, while instantaneous velocity is depicted by the slope of the tangent line at a particular point. Understanding these definitions helps clarify the distinction between the two concepts. Overall, average velocity applies to intervals, whereas instantaneous velocity pertains to specific moments in time.