“I am planning to run a program on this computer that requires 2.4Ghz processor. It doesn't look like this model will be fast enough, am I reading this correctly?”
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This HP laptop - 15-da0041dx has the Intel Core i7-8550U (1.8 GHz base frequency, up to 4 GHz with Intel Turbo Boost Technology, 8 MB L3 cache, 4 cores) processor. The processor has the base frequency of 1.8 GHz and the Intel Turbo Boost frequency of 4 GHz. That means the processor has the capability to automatically go into the Turbo Boost frequency when you need it, which is 4 GHz.
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