* Speed is a scalar quantity, meaning it only has magnitude (how fast something is moving).

* Velocity is a vector quantity, meaning it has both magnitude (speed) and direction.

Therefore, the absolute value of speed is equal to the magnitude of the velocity.

Example:

* A car traveling at 60 mph east has a velocity of 60 mph east.

* The absolute value of its speed is 60 mph, which is the magnitude of its velocity.

In summary:

* The absolute value of speed tells you how fast something is moving.

* Velocity tells you both how fast something is moving and in what direction.

They are related, but not identical.