What is a "Series"?

[WickedTouch]

When I click on "Blogs" on the horizontal menu at the top of the TMF site, the submenu has various menu items to view or create blogs and posts. Also listed are options to create a series. What exactly does that mean? Is it just a bunch of related posts, like if I wanted to post a story with multiple chapters, or a set of related articles? Does it have anything to do with blogs, or is it a similar but separate feature? Initially, I was thinking that you create a blog, and a blog contains any number of posts and series, but I don't think that you can add a series to a blog–Is that right? What's going on here? :/