To calculate the speed of a person at the equator, the discussion emphasizes using the formula v = (GM/r^2 - g)^(1/2), where G is the gravitational constant, M is the mass of the Earth, r is the radius of the Earth, and g is the acceleration due to gravity. The participants clarify that the radius used should be that of the Earth, not the Moon, since the person is located at the Earth's equator. They discuss the relationship between gravitational force and centripetal acceleration, leading to the derivation of the velocity formula. The conversation highlights the importance of understanding gravitational forces and their impact on motion. Ultimately, the participants express gratitude for the assistance in clarifying the calculations.