How is the Version Chart projection calculated

[Gregg Everett]

We are using the Version chart to project release timing. It does not seem to be velocity based (last 3 sprints average of done points) . I read outside the Atlassian forum that it is simple based on points done divided by the total number of days that have transpired from the start of the project so far (for a specific version)

Can you tell me if this is an accurate understanding?

If it is, is it based on the total number days or are any days excluded from the calculation (such as weekends)?

Thanks,

Gregg