Dear divvy,
Np, you do not have to be sorry at all. Always ask if you got questions. It is only stupid if you do not ask.
It always depends but in this case I would say that mid term means like a few months to a year.
Whitepaper is like a text eg. about a certain coin and it describes what this coin is for, how it should be used, what problems will be solved with this idea,... like an explanation of a coin. It is very important for the whole team of a coin to explain their idea(s),... to the public. And if people are convinced they probably will buy the coin and support it.
I hope I did not forget anything too relevant - it is really early in the morning right now haha
Yours truly,
Gandalf The White!

Edit: Btw. if you want to know more about this terms - just google it and maybe read some whitepapers and watch youtube videos...