Erased HD, and now its named Untitled

i downloaded transmission , turned out didn't want it. since i'm new macs decided erase hd, , reinstall os x lion factory setting. when erased macintosh hd disc storage ended deleting it, , giving me hd named untitled. went install new os x. did wrong? or harmful mba? when did of noticed storage space @ 120.99gb. shouldn't near 128gb?

 

you erased entire hard drive because didn't want 1 application? why?

 

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