CPI stands for cycles per instruction. It's the average number of clock cycles each executed instruction takes:
CPI = total clock cycles ÷ instructions executed
When instruction types take different numbers of cycles, CPI is a weighted average. Multiply each type's cycle count by its fraction of the instructions executed, then add.
On Tiny8, LOAD, STORE, ADD and SUB take 6 cycles each, and JMP, JZ and HALT take 5. So any Tiny8 program has a CPI between 5 and 6, closer to 6 when it's mostly memory instructions.
CPI is one of three factors in cpu execution time:
time = instructions × CPI × clock period
A single cycle processor has CPI = 1 by definition, but a long clock period. A multi cycle processor has CPI above 1 and a short period. Neither number alone says which is faster.