The ratio of energy expenditure during an activity to the resting metabolic rate. Walking ≈ 3.5 MET; running ≈ 7–10 MET.
Yes. Calories burned = MET × weight (kg) × time (h), so heavier individuals burn more calories doing the same exercise.
1 kg of body fat ≈ 7,700 kcal. Burning an extra 500 kcal per day leads to approximately 1 kg of fat loss in 2 weeks.