What does the term 'access time' refer to in computing?

The term 'access time' in computing specifically refers to the time taken to locate and deliver data from storage. This is a critical performance metric because it directly affects how quickly a computer can retrieve information from its storage systems, such as hard drives or solid-state drives. Access time is influenced by various factors, including the type of storage technology used and the organization of data on the storage medium. When users request a file or data, the access time represents the delay between that request and the moment the data is actually available for use.

In contrast, the other choices do not relate to access time. The speed of the CPU pertains to the processing speed and performance of the central processing unit, rather than how quickly data can be retrieved from storage. The frequency of system updates involves the regularity with which software or firmware is updated, which is unrelated to access times. The size of the storage device pertains to its capacity to hold data rather than how quickly it can be accessed. Therefore, the accurate definition of 'access time' aligns with the notion of how quickly data can be located and delivered from storage, confirming the correctness of the selected answer.