the cpu utilisation percentage is based on CPU time, essentially the operating system assigns each program a set amount of time slots to use the CPU, after the time is up the operating system takes back control and decides what program to give control to next and for how long
CPU utilisation is essentially how much percentage of the time slots the operating system has available is being used by programs
The cpu speed is not necessarily linked to this, for example laptops might lower clock speed even on high load to save on battery life
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