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Yes, hold "c" while turning on the computer with the disc inserted and then look at the menu bar and go to utilities>disk utility. Then you can format the hard drive and reinstall the OS, or you can simply reinstall in and choose "Erase and Install".
 
Thanks, seems simple enough. Have a new one (MacBook) and got too enthusiastic downloading other programs which I don't want now, so would like too clean up.
 
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